Falling supply and optimistic customers may result in higher skin prices for mink breeders after a landmark 2020.
From Tokyo to Vancouver, more than 100 traders are ready at the screen on Saturday, when Copenhagen Fur in Denmark opens the virtual doors for this year’s first auction of mink fur.
There are two million mink skins for sale, and Jesper Lauge Christensen, CEO of the fur auction house, which is the world’s largest, is looking forward to good sales.
– We expect a nice increase in prices, because the retail trade in our main markets has actually gone well despite the corona. In Korea, Japan and China, the retail fur season has gone very sensibly, so our customers are quite optimistic, he says.
In November, the market price was 400 kroner per skin, after the price had doubled in just two months.
In the last eight years, prices have fluctuated between 225 kroner and 1000 kroner for a skin.
According to Henning Otte Hansen, senior adviser at the Department of Food and Resource Economics at the University of Copenhagen, it has been an unstable industry measured by prices, quantities and supply.
– You typically see price cycles of 6-7 years. We had a large price peak around 2013 and 2014 with very high prices around 700 kroner per skin. And then they have been declining since then.
– If you follow the normal patterns, then the price is about to increase in the coming years. We have also had a period of declining supply, so it also suggests that we will probably get price increases. The balance may be around 300 kroner per skin, according to the assessment.
Usually travelers from all over the world come to Glostrup to inspect the items before the auction. But it is not possible this year due to corona.
The Danish mink industry was turned upside down in November, when all mink were ordered to be killed after infection with a special corona variant.
Despite a billion-dollar compensation, neither Jesper Lauge Christensen nor Henning Otte Hansen believe in a great future for the mink industry in Denmark.
– There are quite a few who might try to start production up again at some point. But it will be difficult, because the Danish mink breeding is built around a strong infrastructure in the industry.
– Without it, you stand completely on your own two feet, says Jesper Lauge Christensen.
This weekend’s auction at Kopenhagen Fur is the first of a total of four in 2021. More are also planned for 2022.
/ ritzau /
Source: Kristeligt-dagblad.dk – Nyheder – Alle artikler by www.kristeligt-dagblad.dk.
*The article has been translated based on the content of Kristeligt-dagblad.dk – Nyheder – Alle artikler by www.kristeligt-dagblad.dk. If there is any problem regarding the content, copyright, please leave a report below the article. We will try to process as quickly as possible to protect the rights of the author. Thank you very much!
*We just want readers to access information more quickly and easily with other multilingual content, instead of information only available in a certain language.
*We always respect the copyright of the content of the author and always include the original link of the source article.If the author disagrees, just leave the report below the article, the article will be edited or deleted at the request of the author. Thanks very much! Best regards!