World mink crop down 10%

SANDY PARKER REPORT, VOL. 32, ISSUE 32, OCTOBER 20, 2008
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.
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International Fur News
with Sandy Parker
World mink crop down 10%
WORLD MINK PRODUCTION, WHICH HAS BEEN INCREASING STEADILY FOR MORE THAN A DECADE, will show its first decline this year, largely reflecting a sharp cutback by China. Chinese mink production had exploded from about 4 million pelts in 2002 to an estimated 20 million last year, largely to satisfy its rapidly growing domestic demand, but that rapid expansion was not without its pitfalls, namely a lack of experience in ranching techniques that resulted in poor quality and unsatisfactory prices. On the other hand, this year’s lower crop could prove to be serendipitous if the world’s financial crisis impacts on fur demand.
According to Oslo Fur Auctions, this year’s world mink crop will amount to a shade over 52 million pelts. This would represent a 10% decline from last year’s 57.7 million, which was an all-time record and included an estimated 20 million produced by China. Earlier this year there were reports that Chinese farmers had slashed production by 25% to 30% and that some of the smaller operators had gone out of business.
AMONG OTHER MAJOR MINK PRODUCING COUNTRIES, this year’s crop was a mixture of increases and decreases. Although Denmark’s production remained unchanged at 14 million – now tied with China’s – the other Scandinavian contributors were down. The Oslo report lists the U.S. and Canada as unchanged at 3 million and 2.3 million, respectively, but estimates by domestic sources have placed the American crop as down about 3% or 4% and Canadian up as much as 10%.
Of the other producers, the Netherlands is up 5% at 4.5 million; Poland up 14% at 3.2 million; the Baltic States up 25% at 2 million; Spain up 11% at 500,000, and Ukraine up 20% at 300,000. On the down side, production in Russia is described as off 9% at 2 million, and Belarus down 20% at 800,000.
IN THIS ISSUE:
World Mink Crop Down 10%
1st Decline in Over a Decade
China Output Slashed 30%
Fox Production Cut 38%
See Tight Credit Choking Sales
For extracts from back issues of Sandy Parker Reports see News Index. Subscribers can access an archive of complete issues at www.sandyparker.com.
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