The long-awaited upturn in the fur market is finally happening, with auctions reporting high demand and rising prices.
In Denmark, Kopenhagen Fur had to extend the auction by two additional days due to very active buys and a considerable amount of request coming In the last moment.
After some challenging years, the prices of mink pelts are rising, with the action reporting that the average skin price increased by 79 per cent compared to a similar offering in September 2020.
Sales percentage for hit a staggering 100% for the first time in a while also indicates that market confidence is growing.
In Russia, Sojuzpushnina and Ruspushnina auctions in February also showed confident results selling close to 85 % of wild sable collections. On average, the price increased by 25 % compared to the results from last December auction.
The fur market had been expecting some adjustment due to the sharp drop in production after Danish mink farming was destroyed due to coronavirus outbreaks on farms.
International auctions are still taking place online due to ongoing travelling restrictions and the corona pandemic. Yet, international buyers’ interest is growing as the reduced productions mean fewer skins on the market. At the same time, retailers are reporting about a very strong retail season in Asia and North America and some part of Europe because of the cold weather.
Highers prices and higher sales are the first signs of a recovery for the market that had been hit hard by the coronavirus pandemic.
Many predict that the upward trend with continues with the next Saga furs action at the beginning of March.
International Fur Federation