The auction was held on Monday by the centre in Masianokeng on the outskirts of Maseru. Maluti Wool and Mohair Centre is one of the five companies that were granted wool and mohair brokerage licences by the Ministry of Small Business Development, Cooperatives and Marketing in August.
Wool and mohair trade has caused uproar in the country following the enactment of Agricultural Marketing (Wool and Mohair Licensing) Regulations 2018. Mr Makhate said during the auction, the highest price for a kilogram of good mohair was worth over M300 while the lowest price for a kg was around M35.
He said on average, one kg of mohair cost between M100 and M200. Commending the event on its unprecedented success, Mr Makhate described the prices fetched as impressive, adding that showed good prospects for the product in the market. “We were invited by the centre to come and observe how the mohair was being auctioned as the responsible the ministry,” Mr Makhate said, adding they previously held another auction with had done the Thaba-Bosiu Wool Centre which is run by Stone Shi of Maseru Dawning.
Part of their duties including observing whether or not the Maluti Wool and Mohair Centre had all the necessary systems in place to get it up and running. The centre was granted a brokering and auctioning license and has partnered with the South African based brokers, BKB for technical support in auctioneering.