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North Island wool has fetched its highest price in over three decades at an auction in Napier this week.
The Romney wool came from a farm in Tikokino and was sold for $6.07 a kilogram by Kells Wool, the only remaining broker in Hawke's Bay.
Higher demand for wool is being driven by several factors, including the rising cost of petrochemical-derived synthetics due to the oil crisis stemming from the conflict in Iran.
Earlier this month, prices reached a 15-year high in Christchurch at the latest PGG Wrightson wool auction, ranging between $6.47 to $6.80 a kilogram for crossbred fleeces, with some of those best presented and showing good colour breaking through $7.
