The Deputy will be aware that funding of €100,000 was committed in Budget 2021 to conduct a review of the potential demand in domestic and international markets for wool-based products such as insulation and fertilisers.
Following a competitive public procurement procedure, ‘The Agile Executive’ a consortium made up of experts from Munster Technological University and Donegal Yarns, were appointed in November 2021 to carry out the wool review and examine the submissions received under the public consultation process.
The Agile Executive produced a report of the findings of the wool review which was published on July 1, 2022. This report, which was independently compiled by The Agile Executive, includes a number of findings and recommendations, including potential funding streams, market opportunities for wool, and multiple areas for additional research and development.
One of the main recommendations of the wool report is the formation of an industry-led Wool Council to develop and promote Irish wool on a domestic and international scale, as well as bringing together multiple stakeholders to foster collaboration, innovation, and scaling activities in the wool sector.
I am very supportive of this recommendation and have committed to provide €30,000 towards the initial costs of setting up this industry-led Wool Council which will provide a clear pathway towards maximising the potential of this valuable natural resource into the future.