ECONOMY

Greek mink farmers expected to raise production

greek-mink-farmers-expected-to-raise-production

Denmark’s coronavirus-driven mink cull has put the fur business in a spin, with industry officials expecting fashion houses such as Louis Vuitton, Dior and Fendi to snap up fox and chinchilla to fill the gap. 

The global fur trade, worth more than $22 billion a year, is reeling from Denmark’s decision to kill 17 million farmed mink after Covid-19 outbreaks at hundreds of farms led to the discovery of a new strain of coronavirus in the mammals.

Worries of a sudden shortage of slinky mink pelts, of which Denmark was the top exporter, have lifted prices by as much as 30% in Asia, the International Fur Federation (IFF) says.

“The real shortage could come from 2022, but by then we are hoping mink farmers in Canada, Poland, America and Greece will increase production to replace Danish output,” said IFF head Mark Oaten.

Russia and China are also expected to hike output. [Reuters]