Missing data to hinder market

22 Apr, 2004 07:00 PM
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WAFARMERS wool section president Max Watts believed published wool sale room data was crucially important for farmers to gauge the wool market.

Last week the NSW Farmers Association called on Australian Wool Handlers to reverse its decision to withhold sale room data.

It is yet another move by AWH in the sale of Australian wool, after they announced earlier in the month a proposal to establish their own wool auction rooms separate from the Australian Wool Exchange.

Mr Watts said the withholding of data would hinder any true market feedback for woolgrowers.

³If we¹re not going to get a true market reflection, it¹s going to be a detriment to our growers,² he said.

NSW Farmers Association wool committee chair Don Hamblin said wool producers needed an accurate system for showing the prices paid for wool.

Mr Hamblin warned growers would not tolerate any withholding of wool sales data.

³Currently woolgrowers and buyers have a high degree of confidence in the market reporting that is associated with the wool auction system,² he said.

³Without accurate information from all sales, transparency of information will be lost.

³It is our fear that for some types of wool, growers will find it hard to determine the current price at auction.²

Mr Hamblin said because AWH was responsible for 60pc of the wool sold in Australia, it could mean the future for wool would not truly reflect the market if the majority of sales data was missing.

He said AWH should put the wider interests of the wool industry first.

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