Every dollar invested by Australian Wool Innovation (AWI) over the past three years has delivered a $2.90 return to wool growers.
“The benefits of AWI's investment in R&D and marketing have been detailed in the recent 'Review of Performance' (ROP) conducted by Deloitte Private,” a press release said.
AWI CEO Stuart McCullough said, “Investment was critical to ensure the continued delivery of benefits to wool growers such as those highlighted in the ROP.”
The ROP showed AWI has created value for wool growers through improved productivity, increased market demand, growing wool prices, and cost savings.
Programs that have helped growers improve profitability include a Lifetime Ewe Management program. AWI's investment in this long-term project represented a return of $13 to $44 on every dollar invested.
Of those woolgrowers who have taken part in the course, the average participant has improved weaning rates by 11 per cent and reducing ewe mortality by 33 per cent.
Under the Wild Dogs program, AWI funded $3 million and leveraged an additional $2.8 million from other partners, representing a return of $8.60 on every dollar invested by AWI.
“This funding supported 98 community wild dog control groups, reducing self-reported stock losses by more than 70 per cent,” the press release added.
AWI funded $2.1 million for the Shearer and Wool Handler Training program for over two years 2012 to 2013, representing a return of $2.60 on every dollar invested.
“Now, 60 per cent of trained shearers reported better productivity and 79 per cent reported improved shearing quality,” it informed.
New supply chains have been developed in emerging countries while more than 20 manufacturers in China, Turkey, Italy and India have improved their technical skills.
AWI has recommended that the current wool levy of 2 per cent be retained for the next three years to ensure the continuation of outcomes such as those delivered over the past three years.
