Indian leather sector: exports hit by COVID-19 suffers decline

Exports of the leather sector have been severely affected so far this financial year due to the COVID-19 pandemic, Aqeel Ahmed Panaruna, Chairman of the Council for Leather Exports stated

Provisional data from the Directorate General of Commercial Intelligence and Statistics indicates that in 2019-20 exports declined by 10.89% to roughly 5.07 billion US dollars from 5.69 billion US dollars in 2018-19.

“Only about 10% of exports was achieved in March 2020 due to COVID-19. For combined April and May 2020 we achieved only 17% or 128.52 million US dollars in exports when compared to 757.11 million Us dollars in April-May 2019”, Mr. Panaruna is being cited by TheHindu.

The same source says that while exports of leather, leather products and footwear stood at 442 million US dollars in June 2019, only 35% of that is expected for June 2020 due to the continuing lockdown. Assuming the lockdown ends, the expectation is that in July percentage could increase to 50%, and that the situation could be back to normal in September.

“Our major markets of Europe and USA (to which 70% of our exports are directed) were very severely affected by COVID-19. Many buyers are filing bankruptcies which is a huge concern, leading to cancellation of export orders,” he added.

Comments

ACLE 2020 rescheduled to 2021

In face of the unprecedented global COVID-19 pandemic, the organisers of All China Leather Exhibition (ACLE), APLF and the China Leather Industry Association (CLIA) have decided to postpone the 2020 event for next year China has enforced 14-day quarantine orders which would make it impossible for international exhibitors and visitors to attend ACLE. On top of that, on the 3rd of July, the Ministry of Commerce, the Ministry of Public Security and the National Health Commission of the People’s Republic of China jointly issued a COVID-19 Safety and Prevention Guidelines for the Organisation of Exhibitions, requesting that "large-scale, foreign-related exhibitions be held cautiously", with strict requirements including limiting the number of attendees. "Under these circumstances and after several in-depth communications, the organisers, in view of the health and safety of our exhibitors and buyers and the impact on the exhibition, made the hard decision to announ...

pineapple leather uses in footwear industry

Pineapple leather, also known as Piñatex, is a sustainable and cruelty-free alternative to traditional leather derived from pineapple leaf fibers. In the footwear industry, pineapple leather has gained popularity for its eco-friendly properties and versatility. Here are some common uses of pineapple leather in footwear: 1. Uppers: Pineapple leather can be used as a substitute for animal-based leather in the creation of shoe uppers. The material is processed and treated to create a durable and flexible textile that can be shaped into different components of the shoe, including the outer layer. 2. Lining and Insoles: In addition to uppers, pineapple leather can also be used for shoe linings and insoles. These components provide comfort, moisture-wicking properties, and a sustainable alternative to traditional materials. 3. Trims and Details: Pineapple leather can be utilized for various trims and details in footwear, such as decorative elements, logos, patches, or accent...

Kering with double-digit drop in revenue

Kering with double-digit drop in revenue The luxury group announced the results for the first half of the year, marked by double digit decline in revenue. Kering name this the toughest period they ever faced “It is fair to say that the first half of 2020 has been the toughest period we have faced - we stand in solidarity with all who are suffering through this situation and acknowledge the remarkable contribution of all our associates. Our results today underscore the extent of the disruption exacted by the pandemic on our operations. Even more importantly, the resilience of our performances validates our model and supports our confidence that we will come out of this crisis even stronger. We entered 2020 in a particularly solid position - our global scale, the desirability and agility of our brands, and our values of sustainability and responsibility, all are key assets in weathering current conditions. Our strategic vision is only reinforced by the crisis and, with the be...

Footasia

Search This Blog