In an attempt to offer a premium payment for UK wool producers, British Wool has recently launched an initiative which aims to trace wool from the farm gate through to the end product.
The closure of global wool markets due to the Covid-19 pandemic left British Wool with around 7 million kilograms (kgs) of unsold stock from a total 2019/20 clip of 27 million kgs. This meant that producers were paid an average of 17 pence per kg for the 2019/20 season clip, around 70% lower than the payment received in 2019.
While British Wool has managed to clear the stockpile from last year and prices have therefore started to recover, prices aren’t expected to return to pre-pandemic levels until 2022.
The new traceable wool scheme will allow consumers to understand the process wool must go through before reaching the shelf but also generate a premium price for eligible producers and aid the recovery of wool prices following the Covid-19 pandemic.