Wool: Auctions
The question
To ask the Secretary of State for Environment, Food and Rural Affairs, whether he has made an assessment of the adequacy of the length of time taken by British Wool to provide payments to domestic producers following auctions.
Answered by Daniel Zeichner
British Wool is a public body, responsible for the collection, sale and marketing of wool from across the UK. While Defra maintains regular engagement with British Wool and monitors its strategic performance through a framework agreement, the organisation remains operationally independent. As such, Defra makes no assessment on the process by which payments are returned to producers.
Sales are conducted by auction throughout the year and reflect global market developments in price and availability. Payments to British Wool’s producer members are calculated at year end once the full value of that member’s clip is known. Returns are based on the weight and quality of wool delivered and the average value each grade achieved at auction. Payments are available from 1 May at the start of the following clip year and are released automatically when new season wool is delivered or on request from members.
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