2 Sep 2014

Farmer-owned wool co-op on agenda

7:04 am on 2 September 2014

A single, farmer-owned wool operation is still on the agenda for the Primary Wool Co-operative.

The co-operative will take a 5 percent stake in the farmer-owned investment company Wool Equities, provided its shareholders agree.

That would make Primary Wool the biggest share holder in Wool Equities and both companies are keen to continue the consolidation of farmer interests in the wool industry.

The Primary Wool Co-operative will take a 5 percent stage in Wool Equities if shareholders agree.

The Primary Wool Co-operative will take a 5 percent stage in Wool Equities if shareholders agree. Photo: PHOTO NZ

Primary Wool chairman Bay de Lautour said the ultimate goal would be to join forces with the other farmer-owned company, Wools of New Zealand.

"We have talked to Wools of New Zealand on a number of occasions, and I see that there are possibilities still for getting closer to them and perhaps the ultimate would be winding the co-operative in with them as well," he said.

"So when that occurs there would only be really one farmer organisation in the wool industry and I think that would be a big help politically and for farmer confidence."