McKinsey and Co. recently released the results of its wool industry study that calls attention to several key areas that could change the way Wools of New Zealand operates. Among the key recommendations proposed in the report is the establishment of a new commercial enterprise that would sell New Zealand wool directly and streamline the wool selling system and reduce the wool levy from 5% to 1% as of July 2001.
Also recommended is an option for growers to invest a portion of their share of reserves in the proposed commercial wool enterprise or to take it in cash, and the earmarking of a portion of the New Zealand Wool Board reserves to foster genetic research and development. These recommendations and others mentioned in the report have been discussed at grower meetings throughout New Zealand.