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Hot Droppings | Website
Velvet Pool Season Ends
07-05-2008 | webmaster
Farmers have not shown sufficient support for the Velconz proposal this season to get the joint venture underway. Pool operator PGG Wrightson undertook to fund a joint venture in proportion to the amount of velvet sent through the pools over and above last year's total. The last pool of the season was held last Tuesday.
Tony Cochrane, PGG Wrightson's National Velvet Manager reports that the season average price across all grades to date is $75. However, there's still more to be sold, including some top-grade velvet, so that average may improve a little yet. "While the aspiration was for a better result than $75, had it not been for the farmer support of the new China contracts this season, it is our view that the average price could have been substantially less." The amount of velvet put through the pool was very similar to last season - at around 280 tonnes.
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