Chinese Luxury Goods Cut Down On Luxury Goods And Mink Prices Drop

The price of "P" mink fell by nearly 40% at an auction in Copenhagen this year.

The latest decline in mink prices may mean that mink is also catching up with the trend.

A survey by HurunReport last month showed that Chinese luxury goods are expected to continue to fall in luxury spending this year.

In 2013, China's a href= "//www.sjfzxm.com/news/index_c.asp" > luxury goods < /a > total expenditure fell for third consecutive years, a decrease of 15%.

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The price of "P" mink has increased two times in the past five years. Last year, at the "Copenhagen fur" (KopenhagenFur) auction, the average price of each marten reached 570 Danish kronor (635 yuan), making a record.

"A href=" //www.sjfzxm.com/news/index_c.asp "> Copenhagen fur > /a" is the world's largest fur auctioneer.

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The average price of 7 million 100 thousand marten skin dropped to 350-360 kronor (about 390-401 yuan) for the "Copenhagen fur" auction at P this season.

Tagg Pedersen, chairman of "Copenhagen fur", said: "last year's price was crazy, because the demand of the world has been exploding in the past few years, but the production of marten has lagged behind."

"Now the mink makers are increasing their horsepower, so the price is relatively reasonable now."

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< p > Pedersen said, because farmers have entered this profiteering industry, the output of the world's < a href= "//www.sjfzxm.com/news/index_c.asp" > mink < /a > has doubled in five years.

"Due to the warmer weather, China's demand has slowed down this season, but now the weather is cold and snowfall, so more mink products will be sold again."

For Western high-end commodity retailers, which rely heavily on the Chinese market, this pattern may change the rules of the game.

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According to the data of < p > "Copenhagen fur", Denmark accounts for about 1/4 of the world's mink production, while mink last year accounted for 40% of Denmark's total exports to China.

According to European and Chinese buyers, although China and Denmark are both mink producing countries, the quality of European mink is higher because of better feeding conditions and higher quarantine standards.

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KnudJ.Vest, vice chairman of the P EuropeanFurBreeders Association, said he expects some farmers to quit the industry, mainly in China, but also in Europe and North America.

Many farmers were attracted by the consumption power of the middle class in China.

"As the price goes down, the weakest farmers will come out of the market again."

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