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Dull trading continues in leather

K. Asadullah Basha

EXCEPT for limited transactions in all types of finished leather, E.I. tanned and wet blue goat and sheep skins at existing price levels, the leather market continued to be dull due to the Diwali holidays.

Even at raw centres, no largescale purchases were reported as the prices of hides and skins, which had escalated in recent months by 25 to 30 per cent, were not at workable levels for manufacturers and exporters of leather and leather products.

On the export front, good demand continued for all types of leather, footwear and garments, besides leather goods, saddlery and harness. However, there was price resistance.

Except for some trial business, exporters were not prepared to commit on volume business contracts on long-term basis, keeping in view the short arrivals of the raw hides and skins and also due to the burgeoning escalation in the prices, locally and inte rnationally, and the on-going currency fluctuations. In addition to these, the processing cost also had increased in producing `eco-friendly' leather and leather products in tune with the international compulsions.

Moreover, exporters are keenly watching the outcome of the Asia Pacific Leather Fair 2000 Fashion and Finished Products-Autumn Show at Hong Kong from October 25 to 27. This fair gives an overview of the upcoming fashion trends for autumn/winter 2001/2002 .