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World Mink Production Hits New High
Chinese output up 25%
Global supply of farmed mink for sale at the next round of auctions will be at a record high as farmers respond to the strong pelt prices set in the season just gone.
This year’s harvest totalled just over 44.6 million, according to the latest statistics from Oslo Fur Auctions. This represents an increase of 11% over the 2005 harvest, which itself set a new record.
While farmers around the world expanded their mink herds, China’s dramatic increase in output seen in the last few years continued, making it the major contributor to the growth in supply.
Auction prices for mink have risen sharply over the last three years, and in the latest round of sales repeatedly set new highs. Fueling the rising prices has been demand from Chinese and Russian buyers.
While much of the Chinese demand has been from apparel manufacturers catering to Western export markets, surging domestic consumption in both China and Russia has also had a huge impact on demand for pelts.
Chinese quality improving
Mink produced on Chinese farms have long been considered inferior and unsuitable for finished goods headed to the West. In the last few years, however, this has started to change.
“Four years ago, Chinese ranches were producing about four million pelts a year, mostly considered low-grade by Western standards and all consumed domestically or exported as low-priced promotional products,” observed veteran fur reporter Sandy Parker. “In the past few years, however, many of those farmers have been bringing in high-quality breeding stock from North America and Europe and improving their products.”
Improvements in farming practices are also being implemented, “and their mink is expected soon to be competitive in quality with Western pelts.”
Denmark still top
Retaining its top spot in 2006 is Denmark, with output of 13.5 million pelts, up 4.6% from the previous year.
However, it seems only a matter of time before it is passed by China. China’s estimated production of 10 million in 2006 was up 25% from last year, and similar growth rates have now been recorded four years in a row.
Despite the increased production world-wide, however, there may still be a shortfall in meeting next year’s anticipated demand, or even demand this year.
“Estimates are that the mink that was marketed this year could be short by as much as 8 million pelts in terms of what could be consumed in the upcoming season,” reports Parker. “If they are correct, it would mean that this year’s mink crop would still fall short of next year’s market needs, causing normal supply/demand forces to keep propelling skin prices higher.”
For further information contact: Teresa Platt, Executive Director, Fur Commission USA, PMB 506, 826 Orange Avenue, Coronado, CA 92118-2698 USA, (619) 575-0139, (619) 575-5578/fax, furfarmers@aol.com, www.furcommission.com.
To take a cyber-tour of a fur farm, visit Fur Commission USA's Fur on Film at http://www.furcommission.com/video/index.htm
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