Opponents are continuing their bitter rearguard action, with Agriculture Minister David Carter yesterday accused of a conflict of interest.
North Island farmer Ian Walsh has sent an open letter to Mr Carter saying that by promoting the co-operative, a company in which Mr Carter was a shareholder could benefit because of a contract it will have with WPC.
Farmers have until next Friday to subscribe for the 65 million $1 shares required to launch WPC, and the proposal received a boost yesterday.
PGG Wrightson Finance announced a finance package for wool-growers wanting to subscribe to the new marketing and supply co-operative, for which they are required to buy one $1 share for every kg of wool produced.
Farmers can pay for the shares over five years and the finance package announced yesterday will cover the cost of the first 20c payment, with the loan to be repaid over 15 months.
WPC chairman Jeff Grant yesterday released the results of a UMR Research poll which showed 60% of the 300 growers surveyed supported the concept of an industry-owned co-operative, and a further 15% said they might do so.
"While grower support is significant, we have yet to reach our target and more applications must be received before WPC can commence operations."
That survey also revealed that summer drought and spring storms had put pressure on farm finances, compromising their ability to subscribe for the shares.
The average farmer produces 15,000kg of wool a year and Mr Grant said the package would help when seasonal cash flows were usually at their lowest.
Mr Grant said the funding agreement allowed repayment directly from wool receipts.
Opposition to the proposal continued yesterday, with Mr Walsh, who developed the Falkirk sheep-selection system, alleging Mr Carter, a Banks Peninsula farmer and shareholder in Banks Peninsula Wool Growers, supports WPC.
He said Banks Peninsula Wool Growers received a 5% premium price for wool supplied to Wool Partners International, which it is proposed will become WPC should there be sufficient shareholder support.
"Could it be suggested that you are using your office as Minister of Agriculture to promote a company, WPC, the success of which will be of benefit to a second company, Banks Peninsula Wool Growers, in which you are a shareholder?" he asked in an open letter to Mr Carter.
Mr Carter could not be reached to respond to the accusation.
