Auction system action
A major promotional campaign will begin shortly to encourage farmers to sell their wool through the auction system. The New Zealand Woolbrokcrs' Association will head the project which will be known as "Action by Auction". Both the Wool Board and the Council of Wool Exporters support the project and will become involved
in its activities. "The auction system is vitally important to all New Zealand farmers," the Woolbrokers' president, Mr Allan Sturzaker, said today. "Without an auction there would be no basis for establishing a price," he said. More than 80 per cent of wool is currently sold by auction and woolbrokers say it is in the industry's interest that this percentagc grows. "The auction system al-.
lows intervcntion and price support which benefits all woolgrowers," Mr Sturzaker said. "And auction price s establish the market lcvel and inform growcrs of ruling priccs for their clip, however it is sold." The campaign will have three phases and continue throughout the year, with much of the promotional work being done in the major wool growing areas by the industry's local leaders.
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Waimarino Bulletin, Volume 6, Issue 230, 9 February 1988, Page 11
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183Auction system action Waimarino Bulletin, Volume 6, Issue 230, 9 February 1988, Page 11
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