[9 May/Radio NZ]

Later this month, the Natural Fibre Exchange will go live and be a means of buying and selling wool. It was set up by Wools of New Zealand, Alliance Group and CRA International. Wool New Zealand Chief Executive, Rosstan Mazey, said he hoped the market would appeal to people who bought wool in other ways. He added the platform was a natural evolution towards developing the most cost efficient means of selling wool. He noted buyers could compare all prices with parcels of wool available simultaneously over multiple bidding rounds. Alliance Group Head of Strategy, Nigel Jones, recognised the importance of wool returns to its shareholders and was interested in the opportunity. He added they were a material seller of wool and therefore were excited about the potential benefits the technology offered. The NFX will go live 22 May.