According to British Wool Marketing Board chairman Ian Buchanan, the needs of the wool industry must be fully accounted for in the upcoming Brexit negotiations. He cautioned against a change in trading conditions that would impact on the export of wool.
He confirmed that the recent weakening of Sterling in the world’s money markets, the so-called Brexit effect, is helping to maintain UK wool prices at the present time. He admitted that prices paid at the most recent wool board auctions had softened to an extent.
Buchanan said that enhancing efficiency levels throughout the board’s entire operation is a key a priority moving forward. This will impact positively on the way the UK manages the grading centres and the range of services provided to farmers.
He however admitted that the UK government’s plan to commence a major house building programme should be good news for the wool industry. But the Britishers need to educate the upcoming generation of new home owners about the quality of woollen carpets. Buchanan also confirmed that 2016 had been a challenging year from a wool production perspective.