British Wool to restructure after pandemic hits hard

Mr Hogley said: “The global market faces an oversupply of cross-bred wool, this is mainly from New Zealand but also from other European markets.

“Although we have seen some more positive signs in recent auctions on some wool types, carpet wools remain under a great deal of pressure.”

He highlighted the contract carpet market which served the hospitality trade was ‘extremely depressed’ due to closures during the pandemic.

Services

Mr Hogley emphasised the service level to producers would not change.

“Where we close a grading depot we intend to replace this with a new intermediate depot in the nearby area. This will ensure producers still have a local drop point for their wool with no onward haulage charges.”

All affected producers would be contacted ahead of the new season and he confirmed they would continue to take all types of wool from any producer.

He also urged producers to stick with British Wool.

“Without British Wool returns for wool would be permanently low and many producers would have no market for their wool. Rest assured things will improve and British Wool will be working hard to support the recovery of the wool trade in order to maximise the value of your wool.”