Charles River Associates (CRA), a renowned global provider of economic, financial, and management consulting services, has announced the launch of its upgraded trading platform for the Natural Fibre Exchange (NFX). Initially used for domestic wool sales, the enhanced platform now facilitates international transactions for wool and was introduced at the June 24 NFX trading event, where nearly 90 percent of available lots were successfully sold. NFX plans to roll out a comprehensive global marketing campaign later this year to attract a broader audience of international buyers and sellers.
“We are delighted to collaborate with the Natural Fibre Exchange, leaders in wool and other natural fibers, and have been offering an efficient online platform since 2018 that benefits both sellers and buyers,” stated Brad Miller, Vice President at CRA and Leader of the Auctions & Competitive Bidding Practice. “Similar to CRA’s other agricultural trading platforms, such as Global Dairy Trade, our NFX auction platform is a trusted marketplace that establishes fair prices and provides reliable industry information.”
CRA conducts bi-weekly NFX trading events, having completed over 150 by June 2024. Each event features simultaneous bidding rounds for all listed products, continuing until a round concludes without new bids.
The Natural Fibre Exchange (NFX) is an online trading platform designed to provide trusted, transparent, and credible reference prices for wool and other natural fibre products. Launched in 2018, the NFX platform was initiated by Wools of New Zealand and CRA International as an open, multi-seller trading platform. Through the NFX platform, sellers gain access to a pool of buyers, and buyers gain access to a single shop-front where they can compare products and pricing of participating sellers. As a result, buyers and sellers can be confident they are transacting at independently established market-based prices. By establishing credible market-based prices, the platform provides industry participants with reference price information that improves the efficiency of the natural fibre marketplace.
