The value of Saga Furs brokered pelts in March auction over EUR 100 million

Saga Furs´ March online auction concluded today. From the 2.5 million certified mink pelts on offer 90% was sold, and from 660,000 certified Saga® fox and Finnraccoon pelts 70 %. The value of brokerage was EUR 104 million (04/2020: EUR 32 million). Purchases went mainly to China with support from South Korea, European fashion industry and Russia.

“The overproduction that has prevailed in the mink market for a long time has disappeared which reflects in increasing prices. As for foxes, the situation is not the same yet. Particularly Silver foxes, mutation foxes and Finnraccoons used by the fashion industry still face challenges,” says Saga Furs CEO Magnus Ljung.

“The result of the auction confirms that confidence of the industry has restored, and fur auction works online as well. Compared to our first online auction last March, the number of brokered pelts has doubled, and the value of brokerage tripled,” Ljung continues.

Saga Furs has today published stock exchange releases in Finnish and Swedish which this report is based on.