The government has pledged to support efforts to return profitability to our fragmented wool industry.

A joint statement from the Ministers for Agriculture and Research, David Carter and Wayne Mapp, has pledged nearly 9 million dollars in funding to the Wool Research Organisation of New Zealand.

The consortium’s mandate stems largely from last year’s Wool Taskforce group recommendations, which highlighted a number of key problems in the industry.

Agriculture Minister David Carter says the investment demonstrates the government’s commitment to reviving an industry that was once the country’s largest.

"Farmers now are starting to re-kindle there interest in wool, we’ve seen a substantial increase in price over the 12 months.

"The fact that the government has confidence in the wool industry, it’s time that every farmer throughout New Zealand producing strong wool also has confidence in the future of this as a valuable contributor to the New Zealand economy."

Carter says farmers should be encouraged by the move, as it shows they and the government are on the same page.

"What it shows is that the government has a very genuine interest in the future of the strong wool industry.

"It has confidence that the wool industry does have a future and the government is prepared to put its money towards research, to find better ways of utilising wool and make it more user friendly for the consumer."                                     David Carter

The minister says the consortium’s research will focus on areas such as sustainability, new technologies, and innovation around wool use.