The London-based topmaker is yet to announce if he will stand for the Australian Wool Innovation elections and declined to comment about his agri-political ambitions this week.

If nominated, his election to the board is expected to draw passionate debate within the industry given his role as one of the largest early stage processors in the global wool industry and the fact that he is based in Europe.

Some see his position as an advantage for Australia’s wool organisation; others perceive it as a threat.

Mr Modiano has long stated the wool industry is in such a poor state that old differences must be cast aside for the good of the fibre that both grower and processor rely on.

While unable to attend the Merryville Merino stud field day last week, Mr Modiano sent a letter in which he urges growers to "grit thrit teeth and plough on" through what he said was expected to be a tough time for wool demand.

"Demand has softened considerably since April, which is reflected in the 20 pc drop in the market since the January peak," he said.

"This is in spite of the projected 4pc fall in the Australian wool supply for this new season which, if current offerings are anything to go by, could be woefully underestimating the full extent of the fall in the clip."

Mr Modiano said the need for marketing of wool was crucial and on farm projects "had no value" if the overall demand for wool continued to "plummet".

"At some stage retailers will have to re-stock, although I fear it will not be at the same levels as in recent seasons," he said.

"Hopefully the Australian currency will drop, which will temper the speed of any price fall for Australian woolgrowers."

On the upside, Mr Modiano said he remained confident for the future of wool, given the industry implemented the correct strategy of selling the superb story of wool, its people, its animals, its history and its advantages over other fibres.