Australian woolgrowers have voted to keep a levy of 1.5 per cent on wool sales to fund research, development and marketing of the natural fibre.
Growers were given four options to choose from: 0%, 1%, 1.5%, and 2%.
Before preferences were allocated, 37.85% of votes favoured a rate of 2.0%. The next highest option was a 1.5% rate, with 37.35% support.
After preferences were distributed, 56% of votes favoured the 1.5% levy rate.
In 2021 the result after preferences was 69% in favour of 1.5%.
The result was overseen by independent share register firm Link Market Services.
In total, 39,762 levy-paying woolgrowers were eligible to vote. Voting allocations are based on how much wool each individual or enterprise sells.
Australian Wool Innovation Chief Executive Officer John Roberts says the company will have to make tough choices.
“Based on current forecasting AWI will cut spending in the order of thirteen million dollars from the start of next financial year.
The result means we will take a series of options to the AWI Board in January about future project spend. Formal consultation on the next strategic plan with industry via the Woolgrower Consultation Group (WCG) and Wool Industry Consultation Panel (WICP) will begin in February.
We remain focused on investing woolgrower levies effectively and efficiently to deliver on-farm and off-farm research, as well as driving more demand for Australian wool all over the world.
“I would like to thank the WoolPoll Panel, in particular its Chairman Rich Keniry, for their efforts to promote the vote and get so many growers to have their say.”