Wools of New Zealand has launched an annual wool commitment programme, called Staple, for its growers.
The wool marketing and sales company, owned by growers, said it believed its latest initiative was an industry first.
Staple aimed ''to provide certainty of supply to customers direct from growers, allowing planning and confidence of meeting contracts'', chief executive Ross Townshend said.
''It's an important tool in reducing price volatility and improving sustained, predictable returns and commercial certainty to our shareholders' and customers' businesses.''
The Staple programme was ''road tested'' with the company's grower advisory panel first, Mr Townshend said.
It had been structured to help Wools of New Zealand (WNZ) shareholders and supporters, who number more than 1000.
Benefits included preferential access to WNZ and Laneve supply contracts, a rebate on achieving annual supply commitment, communication on contract supply options and specifications as available, and participation in the WNZ Grower of the Year Award.
The latter was a first for the company, Mr Townshend said.
''The programme will allow us to identify one exceptional grower annually who will be rewarded for supporting the company's strategy ...
''Long-term supply and commitment programmes are a necessary part of a sustainable wool industry ... serving to directly link growers with customers.
''As an industry we have been slow to provide much-needed direction to our growers. We are prepared to take the lead in that respect.''