CRA International announced the launch of its newly enhanced and expanded trading platform for the Natural Fibre Exchange (NFX). To date, the NFX platform has been used for domestic sales of wool. The platform now facilitates the international selling and buying of wool and was unveiled at the June 24 NFX trading event, where nearly 90 percent of the lots on offer sold successfully. NFX is planning a direct global marketing campaign for later in the year to attract more international sellers and buyers.
“We are proud to be working with the Natural Fibre Exchange, industry leaders in wool and other natural fibers, and since 2018 have been providing an efficient online platform that benefits both sellers and buyers,” said Brad Miller, CRA Vice President and Auctions & Competitive Bidding Practice Leader. “Similar to CRA’s other trading platforms for agricultural products, including Global Dairy Trade, our NFX auction platform is a trusted selling and buying marketplace that discovers credible prices and reliable information in the industry.”
CRA operates bi-weekly NFX trading events, having completed more than 150 through June 2024. All products in a trading event are on offer simultaneously over multiple rounds of bidding, continuing until there is a round with no new bids.
About NFX
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. For more information or to register, visit www.naturalfibreexchange.com.
About CRA International, Inc. and its Auctions & Competitive Bidding Practice
CRA is a global consulting firm specializing in economic, financial, and management consulting services. CRA advises clients on economic and financial matters pertaining to litigation and regulatory proceedings, and guides corporations through critical business strategy and performance-related issues. Since 1965, clients have engaged CRA for its unique combination of functional expertise and industry knowledge, and for its objective solutions to complex problems. Headquartered in Boston, CRA has offices throughout the world. CRA’s Auctions & Competitive Bidding Practice offers businesses, governments, bidders, and other market participants extensive experience in auction and market design, implementation, monitoring, and participation. More information about CRA’s Auctions & Competitive Bidding Practice is available at www.auctions.crai.com.
