Wools of New Zealand chief executive and NFX spokesman Rosstan Mazey

NEW ZEALAND has held its first successful online sale of wool – marketing about 131 tonnes of crossbred and slipe wool to major domestic buyers.

The inaugural Natural Fibre Exchange (NFX) trading event on May 22 attracted strong participation with about 96 percent of 137 tonnes of wool offered finding a new home.

The NFX was launched earlier this month as an innovative independent online trading platform for natural fibres, with an initial focus on New Zealand wool. It aims to offer wool and other natural fibre products sourced from New Zealand and other supply markets longer term.

NFX shareholders Wools of New Zealand (WNZ) and Alliance Group are working with CRA International, a global leader in online trading platforms, as the NFX trading manager.

WNZ chief executive and NFX spokesman Rosstan Mazey said the first trading event attracted a good cross section of New Zealand’s major wool buyers and six sellers provided lots for sale.

“It’s a new platform for wool buyers and sellers, but it’s intuitive and initial feedback has been very positive.

“We are excited about the potential for adding efficiency and value to the buying and selling process – we look forward to additional industry support as we progress.”

CRA vice president and auctions & competitive bidding practice leader Brad Miller said the first live event had gone smoothly with bidders bidding actively round by round.

“Similar to CRA’s other trading platforms for agricultural products including GlobalDairyTrade and CranberryAuction, NFX provides a trusted and transparent selling and buying marketplace.”

Full sale results for the 22 May NFX trading event can be found at: http://www.naturalfibreexchange.com/Results.aspx

NFX trading events will be held fortnightly on Tuesdays at 2pm (NZ time). For more information go to www.naturalfibreexchange.com