The New Zealand government is investing NZ$8.6 million over five years in a research consortium tasked with increasing the wool industry's financial returns.
“We are committed to growing New Zealand’s export earnings from wool fibre, and from value-added wool products developed through market-led research programmes,” Wayne Mapp, the minister for research, science and technology said in a statement on 13 January.
The consortium, which includes the Wool Research Organisation of New Zealand Inc, will match the government donation, bringing the total funding for the project to NZ$17.25m.