6 Dec 2010

Wool Equities backs export initiatives to Russia

5:53 am on 6 December 2010

Farmer-owned investment company Wool Equities is backing efforts to revitalise the wool trade to Russia.

The textile industry organisation says seven textile and clothing companies that took part in a trade delegation to Russia earlier in the year have all had orders as a result of the visit, mainly for woollen goods, including blended merino wool-possum fibre products.

Wool Equities general manager, Keith Cowan, says it recognises the potential of Russia as a market and is entering into arrangements to try to export more to the country.

The company provides financial support and advice for new wool development ventures and in its latest initiative, a joint venture with sheep breed organisation Romney New Zealand, it has released a new range of New Zealand wool rugs in the United States, with two new broadloom carpet ranges to follow.