News & numbers “We have delivered a positive group performance this year thanks to our unique brand
identity, beautiful innovative products and market-leading omni-channel proposition.” Thierry Andretta, CEO, Mulberry
Xingye auto leather logs 23% Q1 gross
profit margin Xingye Technology said that Q1 consolidated income was 464 million yuan (£50.71m): the parent company realised 270 million yuan, Hongxing Auto Leather realised 110 million yuan, and Baotai Leather achieved more than 68 million yuan, according to a report in Straight Flush. Many foreign and domestic brands are the company’s primary customers for leather shoes, such as Belle, Senda, Timberland, Colombia, Olukai, Red Dragonfly, Dissana, Fianni, Lilang, Wanlima, Jihua Group, Kangnai, Aokang and Qianbaidu.
In 2022, Hongxing Auto Leather recorded revenue of 408 million yuan, a net profit of 33.801 million yuan, and a gross profit margin of 23.09%. It is already a supplier of interior leather for car manufacturers such as Ideal Automobile, Weilai Automobile, Wenjie Automobile, Nezha Automobile, Geely Automobile and Mazda Automobile.
Bangladesh’s leather exports
drop 17.55% Between January and April of 2023, exports of leather and leather goods from Bangladesh decreased by 17.55% due to a decline in global demand for luxury goods brought on by inflation. Another reason given for the drop was a lack of environmental compliance. According to the Export Promotion Bureau, the country’s exports of leather and leather items dropped by $78.61m to $369.2m in the first four months of 2023 from $447.81m in the same period of 2022.
According to an export performance
report created by the Leather Goods and Footwear Manufacturers and Exporters Association of Bangladesh (LFMEAB), export revenues from leather, leather products, and non-leather footwear fell by 16% to $509m in January-April 2023 from $604m in the same period the previous year.
The data indicates that the sector’s exports in the first four months of 2023 were on a negative trend.
US beef exports trending lower
April beef exports were lower than the big totals posted a year ago, but US pork exports saw increases in a variety of markets, according to data supplied by the USDA and collated by USMEF. The value of April’s beef exports, which totalled 111,416mt, was 18% lower than it was in the same month last year. In comparison with last year’s record pace, beef exports were down 21% in value ($3.21bn) and 8% in volume (437,910mt) through the first four months of 2023. “With US beef supplies tightening, it’s
difficult to keep pace with the remarkable export totals posted in the first half of 2022, but exports continue to account for a similar share of production as last year’s record,” said USMEF president and CEO Dan Halstrom. “The rebound in travel and tourism – which is now gaining momentum in Asia – and related food service opportunities continue to support beef demand. In some countries, we have also seen a recent easing of the inflationary pressure on consumers’ discretionary income.”
WASDE raises 2023 beef production estimates
The US Department of Agriculture adjusted its forecast for red meat and poultry production in 2024 to be 1% less than in 2023. Beef production is expected to be lower as is pork production, while poultry will be higher, according to the latest World Agricultural Supply and Demand Estimates (WASDE). Expectations for lower-fed and non-fed cattle supplies pushed the beef production forecast lower. At the same time, the forecast for total red meat and poultry production this year was revised upward from last month’s estimates. The expectation for beef production was lifted because the weekly slaughter totals have been higher and placements have also been higher than was forecasted for the first half of the year.
These changes support expectations for higher steer and heifer slaughter in the latter half of 2023. Estimates also pushed cow slaughter higher because supplies of forage remain challenging even though pasture conditions have got slightly better. Beef export projections for 2024 are lower than 2023 thanks to production that will be lower. On the other hand, imports of beef are expected to be higher because US domestic supplies will be tight. Beef exports for this year, however, are expected to be higher, according to indications from current trade data. Those tighter cattle supplies in the US will also lead to higher cattle prices in 2024. For the rest of 2023, cattle prices are expected to be higher later in the year.
Spanish tanning industry starts strong in 2023
Spain’s tanning industry exports started the year with significant increases in the subsectors of processed leather and semi- tanned skins, reports Revista del Calzado. Last year set foreign sales records that
haven’t been seen in decades, so 2023 is looking optimistic for exporting companies. In January 2023, compared with the same month last year, exports of raw skins fell by 8.2% (€1m). Those of semi-tanned leathers shot up by 24% (€1.5m) and those of tanned
Leather International /
www.leathermag.com
skins increased 22.6% (€6.5m). The data comes from the General Directorate of Customs. Comparing 2023 with that of 2020, sales of raw hides fell by 24.1%, while semi- tanned hides increased by 45.3% and tanned by 21.1%. Regarding imports in January 2023, imports of raw skins fell by 15.4% (€0.8m) compared with 2022. Imports of semi-tanned skins fell by 16% (€1.4m); however, those of tanned skins increased 12.1% (€2.5m).
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