The price of mink has more than halved in the past year after retailers in China and other big fur markets were left with surplus stocks after the bursting of the Chinese fur bubble.
Prices at last month’s auction by Denmark’s Kopenhagen Fur, the world’s biggest fur auctioneer, fell 55% to 258 kroner (£27.19) from a year earlier when Chinese demand sent prices to a record. Saga Furs in Finland said prices at its auctions also halved for mink furs.
More than 30 animals are required to make a mink coat. A spokeswoman for Saga Furs said last year’s high prices, followed by a warm winter in China and Russia, left shops with unsold stock, which has had a knock-on effect on this year’s auctions.
Anti-fur campaigners claim demand has been hit by a decline in Chinese luxury purchases, caused by a clampdown on gifts to officials who award government contracts.
Salla Tuomivaara, of the Finnish animal welfare group Animalia, said: “The reason for the price drop is most probably the anti-corruption campaign initiated by the Chinese government, which discourages public servants … to accept luxury gifts.”
The Fur Free Alliance said educated Chinese people were increasingly aware of animal welfare and that fur was losing its appeal among the country’s young people.
However, the Saga Furs spokeswoman denied demand had been dented: “New fur markets and fur malls continue to be opened in new areas in China and the market continues to grow,” she said.
In a letter to clients, Brian Tufvesson, the head of Kopenhagen Fur’s customer department, said: “The industry must continue to hope for a cold winter in the key markets of China and Russia, which will provide the necessary demand.”
theguardian.com
Prices at last month’s auction by Denmark’s Kopenhagen Fur, the world’s biggest fur auctioneer, fell 55% to 258 kroner (£27.19) from a year earlier when Chinese demand sent prices to a record. Saga Furs in Finland said prices at its auctions also halved for mink furs.
More than 30 animals are required to make a mink coat. A spokeswoman for Saga Furs said last year’s high prices, followed by a warm winter in China and Russia, left shops with unsold stock, which has had a knock-on effect on this year’s auctions.
Anti-fur campaigners claim demand has been hit by a decline in Chinese luxury purchases, caused by a clampdown on gifts to officials who award government contracts.
Salla Tuomivaara, of the Finnish animal welfare group Animalia, said: “The reason for the price drop is most probably the anti-corruption campaign initiated by the Chinese government, which discourages public servants … to accept luxury gifts.”
The Fur Free Alliance said educated Chinese people were increasingly aware of animal welfare and that fur was losing its appeal among the country’s young people.
However, the Saga Furs spokeswoman denied demand had been dented: “New fur markets and fur malls continue to be opened in new areas in China and the market continues to grow,” she said.
In a letter to clients, Brian Tufvesson, the head of Kopenhagen Fur’s customer department, said: “The industry must continue to hope for a cold winter in the key markets of China and Russia, which will provide the necessary demand.”
theguardian.com
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