28 Oct 2010

Internet wool selling system goes into full operation

2:27 pm on 28 October 2010

An increasing number of agricultural products are now being sold online and, in the latest development, a new internet-based wool trading system has gone into full operation.

Wool Online is a joint venture between the Wool Connextions company and software development company, Golden Micro Solutions .

It is designed to provide wool merchants and exporters with another selling option, besides the traditional auction system, and has been running in test mode for the past 18 months.

It is the third attempt at setting up an internet-based wool selling system, after two earlier initiatives failed to fire.

Alan Udy of Golden Micro Solutions says the new service has built up to the point where most exporters are using it.

Greg Tibbs of Wool Connextions thinks it could eventually replace the weekly auctions as the main method of selling wool.