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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Visit www.woolpoll.com.au for more information about WoolPoll 2018.
Under its enabling legislation, the Wool Services Privatisation Act 2000, and Statutory Funding Agreement (SFA) AWI must conduct an independent poll of levy payers every three years to determine the amount of levy to be collected from woolgrowers. The levy poll must be conducted in accordance with the Wool Services Privatisation (Wool Levy Poll) Regulations 2003.
Known as "WoolPoll", the poll gives levy payers the chance to set the rate of wool levy they will pay for the following three years, by voting for their preferred levy rate option. Under the regulations three to five options must be presented to levy payers, including a zero rate. The levy rate that receives the most votes is recommended to the Minister for Agriculture, Fisheries and Forestry and reflected in relevant primary industries excise legislation.
The outcome of the WoolPoll - the levy rate and the proportion of funds to be spent on research, development and marketing - is used to negotiate a new SFA with the Federal Government, which governs AWI's expenditure and operations for the next three-year period.
The outcome of the poll also forms the basis of AWI's Strategic Plan, which outlines the key investment priorities and activities for the next three years. The plan is based on woolgrower and government priorities for expenditure, which AWI seeks through a robust consultation process during development of the plan.
At the 2018 WoolPoll, woolgrowers voted to pay a 1 1/2 per cent levy to AWI for 2019/20 - 2021/22 (previously 2 per cent), with 40 per cent to be spent on research and development and 60 per cent on marketing.