Wool report: Market bouncing back

PGG Wrightson's GM for Wool Grant Edwards. Photo / Supplied

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This week The Country's Jamie Mackay is joined by PGG Wrightson's Grant Edwards to take a positive look at the wool market this month.

Mackay said the market was improving.

Edwards agreed, and said the market had grown sale-by-sale, and numbers were up around 60-70 per cent (about $1 per kilo) compared to the lows last year due to Covid-19.

Edwards said it was encouraging and hoped it would continue to increase.

Edwards talked about the increase of overseas enquires, interested new buyers, and the sale of New Zealand wool to over 30 countries around the world.

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China and India continued to be strong importers.

Finally Edwards commented on WRONZ (Wool Research Organisation of New Zealand), and its launch last Friday.

The organisation was looking into new uses for wool programmes and how to commercialise some new incentives.