Agribusiness

Successful trading debut for NFX

The inaugural Natural Fibre Exchange (NFX) trading event attracted strong participation with 41 of 44 lots on offer (93%) sold.

The NFX, launched in May 2018, is an innovative independent online trading platform for natural fibres, with an initial focus on New Zealand wool.

NFX shareholders Wools of New Zealand (WNZ) and Alliance Group are working with CRA International, a global leader in online trading platforms, as NFX Trading Manager.

Rosstan Mazey, WNZ Chief Executive and NFX spokesperson said the first trading event attracted a good cross section of New Zealand’s major wool buyers, while six sellers provided lots for sale. “It’s a new platform for wool buyers and sellers, but it’s intuitive and initial feedback has been very positive. We are excited about the potential for adding efficiency and value to the buying and selling process – we look forward to additional industry support as we progress.”

Brad Miller, CRA Vice President and Auctions & Competitive Bidding Practice Leader said the first live event had gone smoothly with bidders bidding actively round by round. “Similar to CRA’s other trading platforms for agricultural products including GlobalDairyTrade and CranberryAuction, NFX provides a trusted and transparent selling and buying marketplace.”

Source: NFX

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