A computer software company is helping keep one of the country’s oldest industries alive.
Blenheim-based software development company Golden Micro Solutions Ltd is helping give New Zealand’s wool market a modern twist.
Wool brokers and buyers are using an online platform created by husband and wife team Allan and Janet Udy.
And the move has helped strengthen the industry in the face of threats like COVID-19.
An online sale held last week was the first time independent wool brokers have used the system, breaking with over 150 years of open cry auction tradition.
Wool Online and Golden Micro Solutions Ltd co-director Janet Udy says the pandemic meant people couldn’t travel to Napier or Christchurch for the traditional auctions.
“The Covid-19 crisis has made everyone realise that there can be situations when it’s simply not feasible or desirable for brokers and buyers to travel.
“Level 3 and 4 lock-downs forced the cancellation of the traditional open-cry auctions in Napier and Christchurch, and this has helped focus the industry’s collective mind on the idea of increasing the volume of wool traded online.
The Wool Online system, a joint venture alongside Canterbury-based wool broker Wool Connextions Ltd, uses technology originally developed for Wool Marketing Nelson Marlborough in Blenheim in 1995.
A new auction mechanism has been added that more closely mimics the way an open cry auction works.
Developers used it as the foundation to build the new online sales software which was used at an auction in Napier last week.
After an initial glitch, the programme quickly proved its worth, says Janet.
“A technical issue in the first few minutes of the sale resulted in it being reset and restarted, but thereafter the auction proceeded well with more than half a dozen of New Zealand’s major wool buyers purchasing lots.”
Ryan Cosgrove, a buyer from John Marshall & Co Ltd, one of New Zealand’s wool exporters, says he was pleased with the way this week’s auction went.
“With the additional support of more brokers, merchants and buyers this certainly has the potential to be a staple method of sale in the exchange of wool in New Zealand.
“We hope that widespread adoption will help reduce costs while maintaining the same price discovery and transparency for growers, with the same efficiency for buyers, as open-cry auctions do.”