New Zealand’s oldest industry pioneers internet trading

New Zealand wool will soon be bought and sold over the internet using a novel system known as Woolnet.

Woolnet will go live in September after it has been trialled by growers, exporters and other industry players.

WoolPro managing director Lance Wiggins says Woolnet was built for WoolPro by The Networking Edge Ltd and Glazier Systems Ltd, to create new opportunities in New Zealand’s oldest farming industry.

"Woolnet will reduce selling costs, create efficiencies and open doors to new business," he says.

"It will help growers to be strong, well-informed sellers.

"But most importantly, it will create an environment in which growers, service providers, exporters and mills can build new business."

For the first time, greasy, slipe and scoured wool will be bought and sold 24 hours a day, seven days a week, using the internet.

Woolnet is a completely new trading concept where a third party acts as a catalyst to bring buyers and sellers together, without being involved in the transaction itself.

Growers and buyers who have been consulted about the system during its development have given it the thumbs up, says Mr Wiggins. They will be among the first to start trading when it goes live.

"Woolnet has come at the best possible time," he says.

"Growers, brokers, exporters and mills are all looking at new ways

to buy and sell wool.

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"For decades, wool has been measured, appraised and sold on description. By fax and more recently, by e-mail.

"Woolnet brings these technologies together for the benefit of growers and the industry as a whole."

For the first time, physical location will not be a limiting factor for those wanting to buy or sell wool.

For the first time, wools will be able to be offered and sourced easily no matter where they are in New Zealand.

"Woolnet will change the way in which our wool industry operates," he says. "We believe it is the selling system upon which the New Zealand wool industry will build its future."

WoolPro believes the industry is best served by a selling system which is transparent, offers economies of scale, provides for wool to be objectively tested before sale and which attracts strong competition among potential buyers. Woolnet will do all these things, according to Mr Wiggins.

In addition, Woolnet provides free home pages to all those using the system. These will be a bright shop window -- especially for potential new customers who are unfamiliar with the unique qualities of New Zealand wool, he says.

Mr Wiggins says people with wool to sell, including growers, merchants, brokers, exporters and mills will reduce their selling costs. They will also have access to up-to-date sale price information.

"This is a confident step forward for wool in New Zealand, at a time of price depression. Woolnet cannot lift the price of our wool by itself, but it can lift our game in the world.

"It’s a big step toward a brighter future for wool."

For more information, please contact:

WoolPro:

Lance Wiggins, managing director, WoolPro, tel 04 471 4670

The Networking Edge: (for technical queries re the system)