Dr Richardson was most recently Dean of the University of Melbourne's Institute of Land and Food Resources, prior to his retirement in 2004.

In 2002 Dr Richardson became a member of the General Division of the Order of Australia in recognition of his service to the Australian wool industry, through his time at the Australian Wool Corporation, the Australian Realisation Commission and subsequently Wool International.

He joined the Wool Corporation in 1978 as an economist but just over 13 years later found himself as the managing director of the Realisation Commission and embroiled in the politics of the now infamous wool stockpile.

"Balancing economic imperatives against the political reality of the day was an immense challenge that Bob Richardson acquitted with dignity," Mr Hamblin said.

"His passing is a loss to our industry, and we offer our condolences to the family of Dr Richardson."

He was a graduate of Agricultural Economics from the University of New England and completed a Doctorate at Purdue University in the US.

Dr Richardson retired to his farming property at Myrniong in 2004.

He was 64 and is survived by his wife, Pip, and three children.