ASX Wool Industry Web Links
The Australian Wool Exchange (AWEX) commenced operations in February 1994.
In December 1993 the Australian Parliament passed legislation requiring the then statutory wool marketing authority - the Australian Wool Corporation - to divest itself of the responsibility of administering wool marketing arrangements in the Australian Wool Industry. In response, commercial interests representing the wool buyers and sellers in Australia established the Australian Wool Exchange (AWEX) as a public company limited by guarantee to manage wool marketing arrangements in the Australian wool industry.
The membership of AWEX represents the majority of first-hand wool traded in Australia each year and includes wool brokers, exporters, private treaty merchants, processor, wool producers and associates. The AWEX Board represents each of these classes of membership and is responsible for policy setting in relation to the implementation of functions.
The Australian Wool Testing Authority (AWTA) was established by the Commonwealth Government of Australia in 1957 and became AWTA Ltd, a Company Limited by Guarantee, in 1982. AWTA is an independent and impartial Test House whose corporate objectives are namely:
- To maintain a national and international reputation for technical expertise, commercial independence and professional integrity.
- To provide accurate, impartial and efficient sampling, testing, data processing and certification services as required by the wool, other fibre and textile industries at a minimum cost.
- To enhance the profitability of the Australian Wool Industry by encouraging the optimum application of objective measurement.
Much of the trade in Australian Wool is based on testing that objectively measures Fibre Diameter, Yield, Vegetable Matter Content, Length, Strength and sometimes Colour, with Coefficient of Variation of Fibre Diameter also available.
The Australian Wool Industries Secretariat Inc (AWIS) comprises the following organisations:
- Australian Council of Wool Exporters and Processors Inc. (ACWEP)
- Private Treaty Wool Merchants of Australia Inc (PTWMA), and the
- Federation of Australian Wool Organisations (FAWO)
AWIS fufills an industry extension role keeping members informed of developments in the wool industry, represents members' interests in discussions with relevant government departments and other industry sectors, participates on industry committees on members' behalf and works with other industry sectors for the development and success of the Australian wool industry. The Secretariat also provides support to the Australian Superfine Wool Growers Association Inc (ASWGA) and The National Council of Wool Selling Brokers of Australia Ltd (NCWSBA).
Established in 2001, Australian Wool Innovation (AWI) is a not-for-profit company owned by more than 30,000 Australian farmers. In October 2007, AWI acquired assets of Australian Wool Services. As a result of this historic merger, AWI became the owner of the Woolmark brand.
AWI invests in global R&D, innovation and marketing through the entire wool pipeline - from farm to fashion house - in the areas of wool production, textile product development, marketing and industry affairs. AWI investments are predominantly funded through an R&D levy paid by woolgrowers, currently set at two per cent of the sale price received for their shorn greasy wool, and a matching contribution from the Australian government, capped at 0.5 per cent of the value of gross national value of wool production.