Slight price reduction of mink skins
26 June 2012Auction
Kopenhagen Fur's June auction showed that demand for mink skins is still high, but the market has cooled down with a slight price reduction of 6 % on average.
This followed an all-time price record of mink skins at Kopenhagen Fur's April auction. The total auction turnover was a massive 2.75 billion DKK, and 5 million mink skins were sold at an average sales price of 510 DKK.
- During the last two seasons we have experienced a constant rise in the price of mink skins, and it appears that we now have reached the top. The price of mink is at a record-high and of course there is a limit as to how high prices can get. To me, the price reduction is a healthy development because the trade is considering consumer ability to meet the high prices of mink, says Torben Nielsen, CEO at Kopenhagen Fur.
The fierce demand for mink skins is driven mainly by the Chinese market. The Chinese fur industry is experiencing a massive boom, and centres for manufacturing and retail are being built all over the country in the east, so both emerging markets in Asia and established markets like Europe, North America and Russia can be served.
The 2011/12 sales season ends with the Kopenhagen Fur September auction. Kopenhagen Fur expects to reach a 10 billion DKK turnover when the season ends.