Cash for wool research

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A wool research consortium with the goal of lifting wool industry returns is to receive Government funding.

The Foundation for Research, Science and Technology would contribute $8.6 million over five years, which would be matched by the Wool Research Organisation and other industry stakeholders, said Research, Science and Technology Minister Wayne Mapp and Agriculture Minister David Carter.

"The Government's investment in this consortium demonstrates its ongoing commitment to this important industry," the ministers said.

Carter said that increased research and development for the wool sector was one of the key recommendations of the Wool Taskforce.