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Beyond the Bale : September 2018
AWI RECOMMENDS: VOTE 2% THIS WOOLPOLL Demand for wool has risen sharply and with it, so has the price. Many of you are taking advantage of this and investing back into your business – because we all know that choosing to invest when times are good enables us to future-proof and build resilience. With the drought biting hard across much of Eastern Australia, it’s even more front of mind that we must prepare now to manage the challenges of the future. Since late 2017, the Board has deliberated on the levy rate options and what its recommended rate should be, with extensive modelling of investment and forecasting of production and income at the various rates. We know some parts of the industry say that cutting the levy won’t hurt R&D or marketing investments, because the higher wool price will counteract any losses to AWI’s funding. But a cut to the levy leaves no room in the budget to protect your investments against any future price volatility or unpredictable seasonal conditions that affect production volumes – factors which heavily impact the amount of income AWI receives. That’s why we’re recommending you vote to maintain the 2% levy – so we can invest now when prices are good and build resilience to • The projects featured in this edition of Beyond the Bale are only a snapshot of the work AWI does on your behalf. If you see value in the projects we’re funding, then we need your support at WoolPoll to continue. • Voting 2% means we can continue to deliver your core R&D and marketing priorities – and look at investing in new projects that fill important gaps in the industry. • 2% enables us to build resilience and future-proof. WHY WE DON’T RECOMMEND MORE THAN 2% While AWI could invest even more in R&D and marketing at 3% or 2.5%, we believe 2% is the optimum level to balance our financial responsibility with our capacity to deliver benefits for growers. WHY WE DON’T RECOMMEND 1.5% We could not maintain the level of investment in R&D and marketing at 1.5% in the long term, nor continue to deliver R&D and marketing benefits for woolgrowers. We would have no capacity to invest in new opportunities and no buffer in our budget against future wool price volatility, meaning existing programs may have to be discontinued. WHY WE DON’T RECOMMEND 0% 0% makes it impossible to address key woolgrower priorities that support profitability, sustainability or increased demand. We would have to abandon R&D that helps in your fight against flies, wild dogs or any future industry threats. We would stop marketing your wool, and walk away from all the ground we have gained in growing demand for Australian wool. future-proof our investments. We believe 2% is the optimum level to balance our financial responsibility with our capacity to deliver benefits for growers. Choosing 2% means we can continue to deliver our core R&D and extension programs in areas such as managing flystrike, improving reproduction and wild dog control, to address your profitability and productivity priorities. We can also invest in new projects as they arise to help lower production costs, such as automated wool harvesting, which we couldn’t do with less than 2%. With 98% of Australian wool being exported, we need all hands on deck across the supply chain because without consumer education and awareness, people wouldn’t choose to buy Australian wool. With the 2% levy, we can keep marketing Australian wool and building global demand. Just as moving between farming enterprises is relatively easy, so too is substituting wool for other fibres. If we take our foot off the pedal, we’ll leave a gap in the market that will undoubtedly be filled by another fibre. It's a conscious choice, and we want to ensure wool is the final choice, right along the supply chain through to consumers. Choosing 2% allows us to secure wool’s place in the apparel and textile market of the future, by investing in product and processing innovations that revolutionise how wool is thought of and used – no longer the itchy, bulky school jumper of days gone by, but a luxurious, high performance, technical fibre for the modern consumer. WoolPoll is your choice to invest in your industry. Your future profitability, the industry’s sustainability, and the global demand for your product rests on this choice. AWI takes seriously its role in delivering R&D and marketing outcomes that benefit Australian woolgrowers – anditcanonlydothisifyouvoteto maintain the 2% levy rate. The WoolPoll Voter Information Memorandum (left) and AWI’s summary of investments ‘Wool is Your Choice’ (middle) will be sent with ballot papers in September to those woolgrowers eligible to vote at WoolPoll 2018. You can view them both documents online now at www.woolpoll.com.au (right). VOTING OPENS 17 SEPTEMBER 2018 VOTING CLOSES 2 NOVEMBER 2018 IT’S YOUR CHOICE VOTER INFORMATION MEMORANDUM WOOL IS YOUR CHOICE Australian farmers investing in wool innovation since 1936 UPFRONT 5
In the Shops - September 2018