August 25, 2006
August 25, 2006 - "I would like to announce that Cape Wools is now typing all wools from all brokers according to the AWEX-ID (Australian Wool Exchange Identification) international standards," was the message from Cape Wool (South Africa) chairman Hendrik van Zyl.
South Africa is just the latest example of countries working to build continuity in the international wool industry. Because wool is an internationally traded commodity, a common language is necessary in order for everyone to understand what is being represented for sale.
As a common, universal language for domestic and international trade, AWEX-ID helps better describe U.S. wool to both current and new customers. More complete market reporting, price discovery and market transparency are all possible when a more universal language is spoken in the trade.
"Through U.S. adoption of this universal description system, our warehouses have been able to build the customers' confidence on the wool they are marketing," stated Rita Kourlis Samuelson, wool marketing director for the American Sheep Industry Association. "This confidence is essential as more U.S. wool is being exported and new customers are looking to purchase U.S. wool." Staff contact: Rita Kourlis Samuelson, ext. 29