Advance scheme from brokers
Elders Pastoral recently announced a proposal to advance to growers $300 per bale of wool sold through any one of its stores. Called the Elders Wool Investment Plan, the scheme provides $300 per bale spread over three instalments of $100 per month prior to the wool being received into the store. Bruce MacKenzie, National Wool Manager for Elders Pastoral, said that the proposal allows farmers to plan and budget for shearing in a way that
hasn't before been possible. "We recognise that shearing is a major cost and by coming up with this wool incentive plan we are offering clients some assistance with cash flow over what is often a very stretched period," said Mr MacKenzie. "Farmers can approach any one of our branch offices with their estimated normal clip and apply for our advance of $300 on each bale". Repayment would be after 90 days from the date of the first advance or when the wool was sold, whichever is earlier. The
only cost attached to the advance would be a facility fee of $9.00 per bale. The idea was developed by a staff member who was concerned at the number of farmers who were so financially committed around traditional shearing months that they lost any flexibility to market their i product to its best advantage. "Our company is determined to continue coming up with innovative marketing plans and present competitive options for farmers to determine how they will do business," said Mr MacKenzie.
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Waimarino Bulletin, Volume 5, Issue 23, 3 November 1987, Page 3
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249Advance scheme from brokers Waimarino Bulletin, Volume 5, Issue 23, 3 November 1987, Page 3
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