Australia's Merino wool prices ease amid tight supply, stronger AU$
Merino wool prices weakened at Australian auctions this week as extremely low supply volumes failed to support existing price levels. A stronger Australian dollar (Au$)—up 0.7 per cent against the US dollar and 0.5 per cent against the Chinese yuan—added further pressure to the local market environment.
However, in both foreign currencies, the wool market showed slight gains of 0.4 to 0.5 per cent, suggesting demand is attempting to align with limited supply, the Australian Wool Innovation (AWI) said in its commentary for week 50 of the current wool marketing season.
Exporters reported mounting difficulty in securing profitable sales. While Chinese buying persisted, it lacked the usual breadth. Nevertheless, top-making demand from China picked up, with the two largest buyers accounting for over 30 per cent of Merino fleece sales. Indian interest waned over the past fortnight, and European purchasing remained minimal, focused only on high-quality segments.
Merino wool prices declined at Australian auctions due to extremely low supply and a stronger Australian dollar, despite slight gains in US and Chinese yuan terms. Exporters reported profitability challenges, with weaker demand from India and Europe, though Chinese top-maker interest remained strong. Crossbred and carding wools outperformed, rising 10â€'20 cents.
Amid fragile global trade sentiment, buyers were reluctant to stockpile inventory, leading to reduced competition for less desirable wool types. However, strong top-maker activity in China helped support pricing for these lots.
In contrast, crossbred and carding wool types defied the downtrend, with prices rising by 10 to 20 Australian cents across most categories, despite the adverse currency movements, the AWI commentary added.
Grower willingness to sell remained firm, with only 8.3 per cent of lots passed in and clearance rates exceeding 90 per cent.
Next week's offering is expected to total approximately 22,000 bales. Fremantle will not hold a sale, instead building supply for Week 52. Auctions in Sydney and Melbourne are scheduled for Tuesday and Wednesday, though with reduced catalogue sizes.
Fibre2Fashion News Desk (KD)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
20 minutes ago
- Economic Times
Started with only Rs 1700, IITian and tech titan Nikesh Arora rose to outearn Mark Zuckerberg and Sundar Pichai
In 2023, Nikesh Arora, CEO of Palo Alto Networks and an IIT-BHU graduate, earned more than tech giants Mark Zuckerberg and Sundar Pichai. His rise to the top followed over 400 job rejections, financial struggles, and a career spanning Fidelity Investments, Google, and SoftBank. Since joining Palo Alto in 2018, he has scaled the company from a $18 billion valuation to over $100 billion by focusing on cloud security, AI, and innovation. Tired of too many ads? Remove Ads Humble Beginnings in India Tired of too many ads? Remove Ads Career Struggles and Breakthrough At Google and SoftBank Leading Palo Alto Networks On AI and India's Opportunity When tech giants like Meta and Google made headlines for massive layoffs and changing leadership trends, one Indian-origin executive quietly outshone some of the biggest names in Silicon Valley. Nikesh Arora , the CEO of cybersecurity company Palo Alto Networks, earned more in 2023 than both Mark Zuckerberg and Sundar Pichai—an achievement that might surprise many unfamiliar with his journey. But behind that headline-making number lies a story of perseverance, rejection, and a steady climb from modest beginnings to one of the highest echelons in the global tech The Wall Street Journal released its 2023 rankings of the highest-paid CEOs, among the top earners was Nikesh Arora, the Indian-origin CEO of Palo Alto Networks, who secured the second spot with a total compensation of $151.43 million. His earnings significantly surpassed those of major tech leaders, including Meta's Mark Zuckerberg, who earned $24.40 million, and Google's Sundar Pichai, who received $8.8 a detailed and candid conversation with Humans of Bombay, Arora opened up about the struggles and turning points that shaped his journey—from humble beginnings in Ghaziabad to leading one of the world's top cybersecurity journey to the top of the tech industry began in Ghaziabad, Uttar Pradesh, where he was raised in a disciplined household shaped by his father's career in the Indian Air Force. His upbringing, marked by frequent relocations, instilled a deep sense of adaptability and integrity in him from an early age. After finishing school at The Air Force School, he pursued engineering at financial limitations, Arora set his sights on the United States for further studies. With only $100 (around Rs 1700 in 1990) in hand, he applied to universities that waived application fees. Bostons' Northeastern University granted him a scholarship in 1990 and even offered him the chance to teach computer science—something he quickly had to learn to accept the graduating, Arora faced a daunting phase—rejected over 400 times by various companies. He kept every rejection letter, using them as motivation. His breakthrough came in 1992 when he landed a role at Fidelity Investments. Starting from entry-level positions, he worked his way up to become Vice President at Fidelity later earned both an M.S. in Finance and a CFA certification, which significantly broadened his career options. Teaching a CFA course eventually connected him to an opportunity at joined Google in 2004, a few months after its IPO. Over the next decade, he played a key role in growing its revenues from $2 billion to over $60 billion. Describing it as 'like being in a rocket ship,' Arora left in 2014 in search of a new challenge came at SoftBank, where he served as President and COO. His time there brought significant learnings, including the importance of knowing when to walk away from underperforming investments—something he applied while choosing not to back WeWork. Arora eventually exited SoftBank in 2016 when CEO Masayoshi Son postponed his planned 2018, after a sabbatical spent attempting (and failing) to improve at golf, Arora took over as CEO of Palo Alto Networks. At the time, the company was valued at $18 billion. Under his leadership, it has grown to over $100 billion, driven by a strategic push toward cloud security and artificial credits this success to early adoption of emerging technologies and a willingness to acquire or partner when internal development wasn't feasible. His focus on innovation has kept Palo Alto competitive in an increasingly complex cybersecurity has spoken about how scarcity in his youth shaped his resourcefulness and approach to leadership. He sees AI as a transformative force and believes India's strength lies in adapting global technologies to local contexts. According to him, real value in AI will come from localised data and domain-specific knowledge—areas where Indian companies have a natural story—marked by rejection, resilience, and reinvention—continues to resonate, especially in India. His rise shows that success doesn't always follow a linear path. As he told Humans of Bombay, 'Nobody likes rejection… But part of growing up in India is believing in destiny. It helps you rationalise failure. Everything happens for a reason.'
Time of India
an hour ago
- Time of India
Started with only Rs 1700, IITian and tech titan Nikesh Arora rose to outearn Mark Zuckerberg and Sundar Pichai
When tech giants like Meta and Google made headlines for massive layoffs and changing leadership trends, one Indian-origin executive quietly outshone some of the biggest names in Silicon Valley. Nikesh Arora , the CEO of cybersecurity company Palo Alto Networks, earned more in 2023 than both Mark Zuckerberg and Sundar Pichai—an achievement that might surprise many unfamiliar with his journey. But behind that headline-making number lies a story of perseverance, rejection, and a steady climb from modest beginnings to one of the highest echelons in the global tech industry. When The Wall Street Journal released its 2023 rankings of the highest-paid CEOs, among the top earners was Nikesh Arora, the Indian-origin CEO of Palo Alto Networks, who secured the second spot with a total compensation of $151.43 million. His earnings significantly surpassed those of major tech leaders, including Meta's Mark Zuckerberg, who earned $24.40 million, and Google's Sundar Pichai, who received $8.8 million. In a detailed and candid conversation with Humans of Bombay, Arora opened up about the struggles and turning points that shaped his journey—from humble beginnings in Ghaziabad to leading one of the world's top cybersecurity firms. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Top 25 Most Beautiful Women In The World Articles Vally Humble Beginnings in India Arora's journey to the top of the tech industry began in Ghaziabad, Uttar Pradesh, where he was raised in a disciplined household shaped by his father's career in the Indian Air Force. His upbringing, marked by frequent relocations, instilled a deep sense of adaptability and integrity in him from an early age. After finishing school at The Air Force School, he pursued engineering at IIT-BHU. Despite financial limitations, Arora set his sights on the United States for further studies. With only $100 (around Rs 1700 in 1990) in hand, he applied to universities that waived application fees. Bostons' Northeastern University granted him a scholarship in 1990 and even offered him the chance to teach computer science—something he quickly had to learn to accept the offer. Career Struggles and Breakthrough After graduating, Arora faced a daunting phase—rejected over 400 times by various companies. He kept every rejection letter, using them as motivation. His breakthrough came in 1992 when he landed a role at Fidelity Investments. Starting from entry-level positions, he worked his way up to become Vice President at Fidelity Technologies. He later earned both an M.S. in Finance and a CFA certification, which significantly broadened his career options. Teaching a CFA course eventually connected him to an opportunity at Google. At Google and SoftBank Arora joined Google in 2004, a few months after its IPO. Over the next decade, he played a key role in growing its revenues from $2 billion to over $60 billion. Describing it as 'like being in a rocket ship,' Arora left in 2014 in search of a new challenge. That challenge came at SoftBank, where he served as President and COO. His time there brought significant learnings, including the importance of knowing when to walk away from underperforming investments—something he applied while choosing not to back WeWork. Arora eventually exited SoftBank in 2016 when CEO Masayoshi Son postponed his planned retirement. Leading Palo Alto Networks In 2018, after a sabbatical spent attempting (and failing) to improve at golf, Arora took over as CEO of Palo Alto Networks. At the time, the company was valued at $18 billion. Under his leadership, it has grown to over $100 billion, driven by a strategic push toward cloud security and artificial intelligence. Arora credits this success to early adoption of emerging technologies and a willingness to acquire or partner when internal development wasn't feasible. His focus on innovation has kept Palo Alto competitive in an increasingly complex cybersecurity landscape. On AI and India's Opportunity Arora has spoken about how scarcity in his youth shaped his resourcefulness and approach to leadership. He sees AI as a transformative force and believes India's strength lies in adapting global technologies to local contexts. According to him, real value in AI will come from localised data and domain-specific knowledge—areas where Indian companies have a natural advantage. Arora's story—marked by rejection, resilience, and reinvention—continues to resonate, especially in India. His rise shows that success doesn't always follow a linear path. As he told Humans of Bombay, 'Nobody likes rejection… But part of growing up in India is believing in destiny. It helps you rationalise failure. Everything happens for a reason.'
Time of India
an hour ago
- Time of India
Centre defers QCO on textile machinery to 2026
Surat: The ministry of heavy industries, Govt of India, has extended the implementation of the Quality Control Order (QCO) on textile machinery to Sept 2026. The QCO was earlier scheduled to be enforced from August 2025, but various industry stakeholders, including textile manufacturers, had raised concerns. On August 28, 2024, the ministry had issued the Machinery and Electrical Equipment Safety (Omnibus Technical Regulation) Order 2024, making the QCO mandatory for weaving and embroidery machines, including their assemblies and sub-assemblies. The Southern Gujarat Chamber of Commerce and Industry (SGCCI), under the leadership of its immediate past president Vijay Mevawala, had made several representations to the Centre. "This will benefit the industry, and the growth cycle will continue in the textile sector in the region. We thank the govt for considering trade and industry's viewpoint," said Mevawala. SGCCI president Nikhil Madrasi added, "This decision enables Indian manufacturers to produce high-speed weaving and embroidery machinery on par with imported ones, furthering the ' Make in India ' vision." Recently, SGCCI vice-president Ashok Jirawala, former president Ashish Gujarati and other industrial bodies met Union minister for heavy industries HD Kumaraswamy in New Delhi to urge deferment of the QCO. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Top 5 Dividend Stocks for May 2025 Seeking Alpha Read Now Undo They argued that Surat, the country's largest MMF textile hub, annually imports 2,500 to 4,000 high-speed weaving and embroidery machines, many of which are not yet made domestically. Given that MMF continues to dominate textile investments — particularly in waterjet, airjet, and rapier machines — the industry had sought time until domestic manufacturing capacity matched import quality. The Centre's latest decision comes as a major relief for the sector. Follow more information on Air India plane crash in Ahmedabad here . Get real-time live updates on rescue operations and check full list of passengers onboard AI 171 .
