According to Russian media reports, sales in the Russian fur market decreased by 20% in 2022. Due to a decrease in demand, the number of products produced by manufacturers has decreased, which may lead to a shortage of market supply.

The Russian Fur Products Association stated that due to the slower decline in market demand than the decrease in production, the price of fur products may rise in the future. The decline in purchasing power is the main reason for the decrease in demand in the Russian fur market.

According to statistics, in the past 10 years, the world's production of artificially raised animal fur has decreased from 89 million sheets to 13 million sheets. In Russia, the production of mink fur has decreased from 2.3 million sheets in 2014 to 1.3 million sheets in 2022. The Chairman of the Russian Animal Husbandry Association, Bozov, stated that although demand is showing a downward trend, Russian fur production enterprises can still maintain their presence in the domestic market.

Bozov stated that the supply of fur in the global market is gradually decreasing. The consumption of fur ranges from 20 million to 25 million pieces per year, with approximately 13 million pieces produced in 2022 and even less in 2023. Fur products are a cultural characteristic of Russia, and there is still a demand for high-quality Russian fur products in the market, and prices will also rise accordingly.

Source: Xinhua Finance and Economics, China Leather, all rights reserved by the original author

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