Australian Wool Innovation AGM: WoolPoll vote remains at 1.5 per cent until 2028

Australian woolgrowers have voted through WoolPoll to keep the levy on their wool sales at 1.5 per cent to fund research, development and marketing of the natural fibre until 2028. The WoolPoll result was handed down at Australian Wool Innovation’s annual general meeting on Friday, with growers given four levy options to choose from: zero per cent, one per cent, 1.5 per cent, and 2 per cent, with the current levy of 1.5 voted for in the previous WoolPoll. Before preferences were allocated, 37.85 per cent of votes favoured a rate of 2 per cent. The next-highest option was a 1.5 per cent rate, with 37.35 per cent support. After preferences were distributed, 56 per cent of votes favoured the 1.5 per cent levy rate. In 2021, the result after preferences was 69 per cent in favour of 1.5 per cent. The result was overseen by independent share register firm Link Market Services. In total, 39,762 levy-paying woolgrowers were eligible to vote. Voting allocations were based on how much wool each person or enterprise sold. AWI chief executive John Roberts said the peak wool body would have to make tough choices. “Based on current forecasting, AWI will cut spending in the order of $13 million from the start of next financial year, (2025-26),” he said. “The (WoolPoll) result means we will take a series of options to the AWI board in January about future project spend. “Formal consultation on the next strategic plan with industry via the Woolgrower Consultation Group and Wool Industry Consultation Panel will begin in February.” Mr Roberts said AWI would remain focused on investing woolgrower levies effectively and efficiently to deliver on-farm and off-farm research, as well as driving more demand for Australian wool worldwide. “I would like to thank the WoolPoll panel, in particular its chairman Rich Keniry, for their efforts to promote the vote and get so many growers to have their say,” he said. WoolProducers Australia president Steven Harrision said growers had determined 1.5 per cent was “appropriate”. He said given the depressed market conditions and tough seasonal circumstances, it was up to individual enterprises to determine what they thought was an appropriate rate to pay for research, development and marketing. “With the planning for the new strategic cycle under way for the 2025-28 period, it is incumbent on the AWI board to turn their minds to safeguarding the future of the wool industry and making tangible changes to the direction of the company,” Mr Harrison said. “Serious consideration must be given to the current marketing and research and development split of 60-40, given it has been in place for 10 years now.” “It is up to AWI to maximise the money that woolgrowers have committed for AWI to expend on their behalf.”