India’s leather takes a dive on international markets. Council for Leather Exports (CLE), inf act, has shared the data regarding the chain’s export performance during the period from April to October 2019. The result is anything but brilliant. Export dropped by 5.6%. CLE also pointed out how the downward trend was more accentuated month after month.
Cle’s elaborated data shows a dive in the sale of finished leather: -29.1%. Same trend is true for footwear accessories: -19.2%. Meanwhile, leather goods manage to hold on, but not without difficulties: +2.4%. At the same time (unfortunately), the export volume of non-leather shoes grew by 20.3%.
While India’s leather industry has a negative period, the downward moment continues for Uttar Pradesh’s main tannery’s income statement as well, Super Tannery. As reported by internationalleathermaker.com, the company’s net profits dropped by 4.22% during the third quarter (which close don September 30th), for a decrease of 201,000 euro. Revenue barely reached 7.1 million euro, against the 7.8 million of 2018’s third quarter. The latest performance piles on Super Tannery’s poor ones during the previous periods. Net profits had dropped by 36% during the second quarter, and even more in the first one: -79.81%.