Monthly Market Reports
Monthly insights into economic, finance and trade issues affecting global demand for wool, and what this means for the Australian wool industry.
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AWI operates on a Triennial Business Cycle. The current (2019/20 - 2021/22) cycle started on 1 July 2019 with the implementation of the 2019/20 - 2021/22 Strategic Plan. The following outlines the activities and processes which underpin AWI's operations throughout the Triennial Business Cycle.
1. Three-year Strategic Plan
The Strategic Plan outlines AWI's strategic direction and targets for the strategic period (2019/20 - 2021/22). AWI will report against these targets through its extensive reporting mechanisms including the AWI Woolgrower Industry Consultation Panel, the AWI Woolgrower Consultation Group, the Annual Report and Beyond the Bale.
In drafting the Strategic Plan, AWI consulted widely with woolgrowers and their representatives to ensure industry views and priorities were incorporated into the final plan. The Stakeholder Consultation page provides further information on the consultation process undertaken to draft the current Strategic Plan.
Prior to WoolPoll, an independent Review of Performance assesses AWI’s performance against the Strategic Plan, relevant Annual Operating Plans, compliance with the Statutory Funding Agreement and general overview of operations.
The latest Strategic Plan (for 2019/20 - 2021/22) is available (PDF 7.7Mb).
On 30 January 2019, AWI convened a Strategic Planning workshop attended by woolgrower representatives from 25 groups. The primary purpose of this workshop was to gather an understanding of woolgrower priorities to guide AWI’s research, development and marketing activities for the next three years.
AWI provided an overview of the activities it has been working on over the last three years, and thoughts on what the next three years might involve. The presentations delivered at the workshop can be accessed below:
2. Four-year Statutory Funding Agreement
Based on the outcomes of the 2012-15 independent Review of Performance and WoolPoll, AWI negotiated a new funding contract - the Statutory Funding Agreement - with the Federal Government that governs AWI's expenditure and operations for the next three-year period.
3. Annual Operating Plan
Based on the three-year Strategic Plan, every year AWI develops an Annual Operating Plan which outlines the activities and investments to be made over the next year. AWI consults with industry to ensure their views are incorporated into the plan.
4. Three-year independent Review of Performance
Prior to WoolPoll, AWI must commission an independent Review of Performance to assess its performance against the Strategic Plan, relevant Annual Operating Plans, compliance with the Statutory Funding Agreement and general overview of operations.
Woolgrowers vote at WoolPoll every three years on the amount of levy they will pay for the next three-year period for research, development and marketing activities, and the direction in which levies will be invested. Woolgrowers can consider the results of the independent Review of Performance when making their levy decision at WoolPoll.