Serious decline in hide trade

Press, 20 February 1980, Page 24

Serious decline in hide trade

PA Wellington ! Colyer Watson Holdings, Ltd, hides exporter, has encountered a serious trading downturn in the last six weeks, with sales “virtually at a standstill,.” the chairman (Mr Clifford Pearce) said at the annual meeting. The satisfactory trading trends reported in the annual report “have unfortunately not been maintained,” he said. The markets for the commodities in which the company traded had not shown the upward price-surge of other raw materials such as sugar, rubber, wool, and base metals.

, “In fact the reverse has been the case, and it seems that despite its strategic implications the international leather trade is going through a period of great difficulty,”, he said. “Sales in the last six weeks have been virtually at a standstill with our most important consuming destinations at present taking little interest in our offerings, even at substantially marked-down prices. “How long this situation will last is impossible to say. but its implications for trading results for the current period will be not lost on members,” said Mr Pearce.