Reserve Bank rules bleeding farmers dry - Feds
There are calls for the Reserve Bank to drop its banking capital rules, which Federated Farmers says is costing farmers a fortune.
"In a green-aware age, bales of wool should be flying out of our woolsheds. As they are not, is why management consultants could describe the wool industry as a 'problem child'," says Jeanette Maxwell, Federated Farmers Meat & Fibre chairperson.
"New Zealand Wool Services International is our largest exporter but two of its major shareholders are in the hands of receivers. This is not a criticism of the receivers. Their role is to keep things ticking over rather than making strategic decisions.
"Wool has a strong future and this future is a discussion point next week in Wellington during Federated Farmers 2012 Meat & Fibre Council meeting.
"In November, HRH the Prince of Wales and patron of the Campaign for Wool is visiting New Zealand. I am certain Prince Charles will catalyse interest in wool as one of the greenest fibres we have.
"The priority is to get WSI's two major shareholders out of the hands of the receivers and into the hands of a company that will grow our industry. Being a Kiwi I would dearly love to see these assets remain in local ownership.
"We need to make progress with consumers and that is what the Campaign for Wool is aimed at. Then we have innovators, like The Formary and Icebreaker, taking wool in bold new directions.
"Finally, we need our largest exporters at the top of their game, no matter who owns them.
"It is why WSI's two major shareholdings need to leave the hands of the receivers and we cannot wait for this to happen," Maxwell says.
