Fashion
Australian wool market shows resilience amid currency headwinds
The Australian dollar climbed above US 72 cents for the first time since 2022 following the Reserve Bank of Australia’s interest rate hike and continued weakness in the US dollar. The stronger currency created headwinds for local wool prices, though the broader market tone stayed positive.
Fine Merino wool types between 16.5 and 19 microns slipped 10-15 Australian cents, while medium Merinos in the 19.5-21 microns range fell 20-25 cents. Meanwhile, crossbred wool categories from 26 to 32 microns rose 10-15 cents and Merino cardings gained 15-20 cents across selling centres.
The Australian wool market remained resilient this week despite pressure from a stronger Australian dollar, which weighed on local currency returns.
While the Eastern and Western Market Indicators recorded slight declines in AUD terms, both posted gains in US dollar terms.
Firmer crossbred wool prices, stronger Merino cardings, and selective buyer demand helped support overall market sentiment.
Industry observers noted firm demand for crossbred and oddments sectors, supported by interest in blended fibre applications and woollen-spinning inputs as processors looked for comparatively lower-cost raw materials amid ongoing macroeconomic uncertainty.
Lower-style Merino fleece types continued to face subdued demand, reflecting selective buying patterns focused on fibre quality, processing efficiency, and consistency as manufacturing margins remain under pressure.
Weekly auction offerings fell to 33,055 bales, while next week’s roster is expected to decline further to 31,329 bales. Fremantle will hold a Tuesday-only auction, while Sydney and Melbourne will conduct sales across Tuesday and Wednesday.
Fibre2Fashion News Desk (CG)
Energy and food security reforms are necessary to achieve the goal of a ‘Viksit Bharat’ (developed country) by 2047, it noted.
India’s GDP growth is projected to moderate to 6.6 per cent in FY27 from 7.1 per cent estimated earlier, according to a joint report by S&P Global and Crisil.
Energy and food security reforms are necessary to achieve the goal of a developed country by 2047, it noted.
India should devise a comprehensive energy storage policy to create strategic buffers, the report, titled ‘India Forward’, said.
Titled ‘India Forward’, the report said India is facing external economic shock from energy supply disruptions, rising oil and gas prices and currency volatility, and it should devise a comprehensive energy storage policy to create strategic buffers.
While releasing the report, Crisil chief economist Dharmakirti Joshi said that as the duration of the crisis increases, newer stress points would emerge, and the weakening rupee and rising oil prices are a double whammy of sorts, creating pressure on growth.
Calling for more reforms to deal with the crisis, Joshi said India needs to become more competitive to take advantage of the recently-signed free trade agreements, which give market access through lower tariffs.
Fibre2Fashion News Desk (DS)
Cotton yarn prices further increased by ****;** per kg in the Ludhiana market. Spinning mills are raising their mill rates to pass on additional burden of rising cotton prices. A trader from Ludhiana market told Fibre*Fashion, ““Indian spinning mills are receiving support from export markets as mills in Bangladesh and Vietnam continue to face energy-related disruptions amid the ongoing war situation. As a result, the textile and apparel industries in both countries are increasingly sourcing cotton yarn from Indian spinners.”
In Ludhiana, ** count cotton combed yarn was sold at ****;***–*** (~$*.**–*.**) per kg (inclusive of GST); ** and ** count combed yarn were traded at ****;***–*** (~$*.**–*.**) per kg and ****;***–*** (~$*.**–*.**) per kg, respectively; and carded yarn of ** count was noted at ****;***–*** (~$*.**–*.**) per kg today, according to trade sources.
India’s growth may moderate to 6.6% in FY27 amid global energy shocks
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Australian wool market shows resilience amid currency headwinds
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