HK makers raise wholesale prices as pelts head upwards

SANDY PARKER REPORT, VOL. 30, ISSUE 31, OCT. 9, 2006
The following extract is reproduced with permission from Sandy Parker Reports, Weekly International Fur News. Sandy Parker has been covering the fur industry for more than four decades. For most of that time he has published a weekly newsletter, detailing results of international pelt auctions, wholesale price trends, business developments and movements in the trade, as well as economic and political activities that may impact on it.
Subscribe now and receive all the latest news, either in print or electronically. Just $150 a year for 48 issues! Sandy Parker Reports, 21219 Lago Circle, Boca Raton, FL 33433; Tel: (561) 477-3764; Fax: (561) 862-7052; SParker@SandyParker.com; www.sandyparker.com
International Fur News
with Sandy Parker
HK makers raise wholesale prices as pelts head upwards
HONG KONG-BASED MANUFACTURERS HAVE POSTED HIGHER WHOLESALE PRICES on mink garments following the most recent advances in skin prices at the season’s final auctions in Scandinavia. The new increases range from 10% to 20%, depending on color and quality, as well as their supplies of skins purchased earlier. The bulk of the increases are said to be in the area of 10% to 12%.
The new price lists were said to be effective immediately on both new orders and reorders, but that sales already booked by the manufacturers for October or later delivery would not be affected. Considering that most North American and Western European vendors and retailers have already anticipated most of their needs for the season ahead, the impact on them figures to be minimal. The main brunt of the new price hikes is expected to be borne by the Chinese and Russian markets, which have only recently begun to place their orders.
MEANWHILE, THE CHINESE FACTORIES HAVE BECOME BUSY WITH ORDERS beyond those booked at the Hong Kong Fair in February. In the past few weeks, developing retail business in China and Russia reportedly has resulted in new orders that are beginning to put pressure on the factories and possibly extend delivery times. With their costs going up and skin supplies dropping, many manufacturers could be expected to seek relief in terms of later deliveries and/or higher prices. While neither would be palatable to either vendors or retailers, they may have little choice, considering how the world’s fur markets have come to depend on Hong Kong/China.
At this point, the factories are said to be quoting six weeks for delivery of new orders, but this is expected to lengthen as Chinese and Russian sales gain momentum and retailers need to replenish their stocks.
IN THIS ISSUE:
H.K. Mfrs. Raise Prices 10%-20%
New Hikes Effective Immediately
Russian, Chinese Markets Active
Delivery Time Seen Lengthening
Senate Passes Strong Terror Bill
For extracts from back issues of Sandy Parker Reports see News Index. Subscribers can access an archive of complete issues at www.sandyparker.com.
-
For further information contact Fur Commission USA.
Home
© 1998-2011 Fur Commission USA