Turkish finished leather prices plummet
Revenue for the country’s leather makers is said to have fallen significantly.
Image © Tickettofly
The rates that tanners in Turkey are able to secure for finished leather are substantially lower than they were 18 months ago, according to industry analysts in the country. In June 2019, Turkish tanneries were selling top-grade finished sheepskin garment leather at £1.50 to £1.88 ($2 to $2.50) per square foot, and achieving between £1.50 and £2.25 ($2 and $3) per square foot for finished bovine shoe upper leather.
By the end of November 2020, however, the prices had reportedly dropped to £0.60 to £1.12 ($0.80 to $1.50) per square foot for garment leather, and between £0.75 and £1.50 ($1 and $2) per square foot for upper leather. This represents an average fall of 50 per cent for garment leather and 42 per cent for shoe upper leather.
According to the Istanbul Leather and Leather Products Exporters’ Association, Turkey is considered to be a leading manufacturer and exporter of leather and leather items, selling to nearly 200 countries. Statistics published by business analysts indicate that sales of leather, hides and skins in 2019 totalled £177 million ($234 million). The top ten import destinations for Turkish leather are India, Italy, Germany, Portugal, South Korea, the Dominican Republic, Spain, China, Hong Kong and Russia.
This article was originally published on page 4 of the January 2021 issue of SATRA Bulletin.