2014 was quite a year! Reflecting back we see a year of growth, change and positive fruits of hard work and investment.
Read more to see our membership growth, rebates, discounted wool packs, industry collaboration updates and more.
As farmers, we have been right beside you watching the wool price hold its own, carefully considering the pros and cons of a wool levy and crossing our fingers for good weather. As a Co-operative we have stepped up to increase membership, instigate collaboration within the industry, and invest back into the industry-good initiatives. Some highlights from our year:
We proudly say we now have over 1,200 members with 193 new members joining in 2014 and adding $313,000 of new capital to Primary Wool Co-operative.
Rebates total $400,000
In 2014 rebates to members supplying wool through Elders Primary Wool auctions totalled $400,000. This is almost $100,000 higher than 2013. Be on the lookout for your rebate coming in the mail or in your inbox next week! Please contact [email protected] if you have not received your rebates by late next week.
Discounted wool packs saving members over $600,000
This last year over 90,000 wool packs were sold, saving Co-operative members who provide wool to Elders Primary Wool (EPW) over $600,000. For more information about the history behind this initiative and how you can participate, visit Primary Wool Co-operative Discounted Wool Packs.
Recognising the need for industry collaboration, we sat down with multiple organisations to find ways we could best support our members and your industry.
As a result of these conversations we funded Campaign for Wool Wool Week NZ, we now own 5% of Wool Equities Ltd, and we invested in Bruce Woollen Mills Ltd. Our board members also diligently worked with Elders Primary Wool to keep Christchurch Yarns in NZ ownership, now under it’s new name, NZ Yarn Ltd.
Just Shorn™ Success
We are pleased to share that Just Shorn™ continues to be well received in Australia and will be available in the New Zealand market in early 2015. The Just Shorn™ sales promotion has been running since October in the US, Canada and Australia and will finish 31 December 2014 – to date sales reports show an increase in Just Shorn™ sales across the entire range.
Elders Primary Wool profit
Our joint venture with Carr Elders Group, Elders Primary Wool, returned a profit of $1,991,536 in 2014. By virtue of the co-operative model, Primary Wool Co-operative members were able to share in the profits of the Elders Primary Wool trading entity.
Campaign for Wool NZ
Primary Wool Co-operative invested $132,000 into the Campaign for Wool NZ through social media, website and Wool Week support.
We are proud of the work the Campaign is doing to raise the profile of wool around the world. It is funded by farmers and other wool industry. We will continue to support the organisation throughout 2015 and encourage others to do so as well. To support you can contact [email protected]
We appreciate your continued support as we enter into 2015! Merry Christmas and Happy New Year!
It’s your wool. It’s your Industry. It’s your co-op.
Bay de Lautour
Chairman – Bay de Lautour – [email protected] – Phone 068556827
Director – Howie Gardner – [email protected] – Phone 03 4180645
Director – Hamish de Lautour – [email protected] – Phone 06 8577926
Director – Martin Udale – [email protected] – Phone 09 353 2056
Secretary – Alan White – [email protected] – Phone 06 3538200