Australian woolgrower levy remains at 1.5%

Australian woolgrower levy remains at 1.5%

Australian woolgrowers have voted to maintain a levy of 1.5 per cent on wool sales to fund research, development and marketing of the natural fibre.

Growers were given five options to choose from: 0%, 1%, 1.5%, 2% and 2.5%.

Before preferences were allocated, the result showed 47% of votes favoured a rate of 1.5%. The next highest option was a 2% rate, with 27% support.

After preferences were distributed, 69% of votes favoured the 1.5% levy rate.

The result was overseen by independent share register firm Link Market Services.

In total, 46,541 levy-paying woolgrowers were eligible to vote. Voting allocations are based on how much wool each individual or enterprise sells.

Australian Wool Innovation acting Chief Executive Officer John Roberts says WoolPoll is an important way for growers to have their say on their industry.

“Woolgrowers clearly want to maintain the 1.5 per cent levy and for AWI to continue to work hard on their behalf,” Mr Roberts said.

“We are committed to investing woolgrower levies effectively and efficiently to deliver on-farm and off-farm research, as well as maximising the commercial opportunities for Australian wool all over the world.

“I would like to thank the WoolPoll Panel, in particular its Chairman Steven Bolt, for their efforts to promote the vote and get so many growers to have their say.”

An additional question was asked on the ballot paper this year, seeking the views of levy-payers on whether the 3-yearly cycle of WoolPoll should be changed to 5 years.

In total, 64% of votes favoured maintaining the three-year cycle.

Source: AWI