Velevt Pool Results

11/21/1998

There is concern that some velvet producers have been selling their velvet on farm at less than market values due to a lack of market price information.

Before the current velvet season, Velpool and Wrightson announced they would be limiting the publication of pool prices. This season, only successful bidders and sellers have been notified the prices of the grades they bought or sold. In previous seasons, all pool prices have been widely available. The change was brought in to address an issue last season where importers with access to pool price information were using falling pool prices to further erode international market prices.

However, a downside of the policy has been that farmers not selling through the pools have not had the same price information as in previous seasons.

Therefore, in consultation with Velvet Pool Operators, the Game Industry Board is publishing pool results as a mid-season update to assist producers with their selling decisions. Velvet Pools will be continuing with their policy of non-publication on an ongoing basis.

Velvet Pool Operators have reported that the non-disclosure of pool results this season has helped stabilise the market and in recent weeks prices for some grades have increased by around 20%.

For more information contact Michael-John Loza, Velvet Manager, Game Industry Board Ph (04) 473 4500 Mobile (021) 993389