Woolgrowers reject AWI pitch for more money vote for the status quo
Woolgrowers have voted resoundingly to maintain a 1.5 per cent levy on wool sales to fund Australian Wool Innovation.
Key pointsAfter the first round of voting, 47 per cent of votes favoured 1.5 per cent, and after distribution, that figure rose to 69 per cent.
AWI had been urging woolgrowers to vote for a levy increase to two per cent, while Wool Producers Australia supported the status quo.
AWI chairman Jock Laurie said the result meant there would be some areas where the company wouldn't be able to invest.
"If we wanted to invest in all the things growers wanted, then yes, two per cent was clearly the target we were aiming for; 1.5 per cent means there will be restrictions and that's just the way it is," he said.
"If we want to make sure we're defending wool fibre overseas, then two per cent was going to allow us to invest properly in that.
"Obviously now there will be areas where the company simply can't invest."
Mr Laurie said he wasn't surprised by the result.
"We knew right from the word go that … talking about increases was gong to be a very difficult sell."
The AWI annual general meeting is on November 19, and Mr Laurie, who is standing for re-election, said investment decisions would be up to the new board.
"The new board will have to seriously look at that when they get put into position next week," he said.
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