AWI chairman Jock Laurie announces the 2024 WoolPoll result at the annual general meeting this morning.
AUSTRALIAN wool growers have voted to retain the levy they pay for research, development and marketing at 1.5 percent.
The AWI board had sought an increase in the levy to 2pc and although the 2pc vote increased, after preferences 55.8pc of votes favoured the 1.5pc option.
Growers were given four options to choose from: 0pc, 1pc, 1.5pc and 2pc. Before preferences were allocated, 37.85pc of votes favoured a rate of 2pc. The next highest option was a 1.5pc rate, with 37.35pc support. After preferences were distributed, 55.8pc of votes favoured the 1.5pc levy rate.
The result was overseen by independent share register firm Link Market Services. In total, 39,762 levy-paying wool growers were eligible to vote, but Mr Laurie said only 18.5pc voted — the lowest participation rate in the history of WoolPoll. About 360 people and proxies attended the virtual AGM; less than 1pc of the eligible growers.
AWI chairman Jock Laurie said the board was encouraged by the increased first preference 2pc vote – with a drop in the final 1.5pc vote from 69pc in 2021 to 55.8pc this year — showing that growers were prepared to back the company.
“It’s a good message to us and the industry,” he said.
It’s great to have the support.”
Mr Laurie said the WoolPoll result was an opportunity for AWI to reset and make sure it was dealing with things that are “really important.”
Mr Laurie said the 1.5pc levy result meant that in 2025/26 — based on the latest ABARES Eastern Market Indicator price projection and the estimate national wool production of 285mkgs — levy income was estimated to be about $51.5m.
How does AWI explain wool in Finland of 30 micron-plus wool selling at $11/kg greasy on farm when in Australia 19 micron world-class greasy wool is selling for around $8/kg? Is it that Australia has a policy of mulesing? Is Australia now being penalised as a nation for mulesing sheep? Where is the wool industry leadership headed?
Don, You may be interested to know our wool testing business in Europe tested Finnsheep for the project I think you refer to. Their sucess comes from a largely vertically integrated operation that effectively promotes traditional methods and designs. I hate to say it, but they also promote their animal welfare credentials and specifically, that the sheep are not mulesed. The fact there are few blowies in Finland and that mulesing is not needed anyway is immaterial to their customers.
How many people voted 0 percent?
A lot of people didn’t vote because AWI doesn’t rate.
In the bigger picture, AWI does not help farmers. AWI are essentially federal government bureaucrats who have nice jobs.
The money spent -/ gains in the industry are all nil.
How is AWI going to stabilise sheep numbers in Australia to let’s say 70 million? Just to keep the industry afloat?
Never mind the spin, a resounding defeat for the AWI board’s stupidity and greed, when growers are under so much duress.
More than 62 percent of votes cast did not support the wool tax increase. Clearly a vote of no confidence in the board.
Fortunately the chair has only one year to survive before he has to go, but will the rest change and actually improve the outlook for wool?
I tried to vote but found the system too difficult and it would not accept the voting number provided in the email I received from AWI.
I didn’t receive the paper voting documents in time to do it that way either.