Feb 10, 2010
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Mink pelt auction scores record sale

Feb 10, 2010

COPENHAGEN, Feb 10, 2010 (AFP) - The world's top mink fur auction fetched a record 188 million euros as a booming Chinese market helped boost sales despite the global economic crisis, organisers said on Wednesday 10 February.

"Around four million mink pelts were sold during this auction for a record 1.4 billion kroner (259 million dollars) despite this time of crisis," Kopenhagen Fur spokesman Sander Jacobsen told AFP.

"These record sales were obtained in all the markets, but notably in the booming Chinese market following a very cold winter," he said.

Kopenhagen Fur holds more than 40 percent of the share of the global production amd organises five auctions per season in front of 500 buyers from 35 countries, half of them from China. The four-day February auction ended on Tuesday 9 February.

More than 70 percent of mink pelts on the auction block are from Denmark, the world's leading producer and exporter.

Strong demand in recent months has driven up mink pelt prices, which rose by 36 percent in the December auction. The average price reached 324 kroner (43.5 euros, 60 dollars) in February, an increase of 13 percent, according to Kopenhagen Fur.

Kopenhagen Fur said it expected sales to rise to 5.5 billion kroner in its 2009-2010 season, which lasts from December to September, for a total of 17.9 million mink pelts.

This compared to four billion kroner in sales in the 2008-2009 season, during which pelts sold for an average of 193 kroner.

Denmark is the world's leading producer and exporter of furs, holding about 40-45 percent of the mink market, 60 percent of the chinchilla market and 10 percent for fox.

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