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Seal Pelt Prices Drop in 2007

2006 Prices Deemed Exorbitant


 

"When the high priced sealskins from 2006 hit the markets sales became difficult, but some did sell, but by year end 2006 all sales stopped."

Carino's 2007 Price List (Canadian dollars):

 

March 27, 2007 ** I II III IV
Ragged Jacket $30 $22.50 $15.00 0
Beater A $55 $38.50 $22 0
Beater B $40 $28 $16 0
Beater C $25 $17.50 $10 0
Bedlamer, Small, Natural $20 $12 $8 0
Bedlamer, Small, Yellow $15 $9 $6 0
Bedlamer, Large, Natural $40 $24 $16 0
Bedlamer, Large, Yellow $20 $12 $8 0
Ring Seal, Natural $10 $6 $4 0
Blubber $0.20

 

A Message from Carino

To All Sealers
Wednesday, May 23rd 2007 at 10:19am NDT - by John C. Kearley

Prices for seal pelts during 2007 season

Unfortunately there has been a severe downturn in the prices for sealskins on the world market. There are many factors for this downturn, the main factor, as far as we can see, is the sharp increase in the world supply of mink. This increase in supply was followed by a decrease in prices.

Carino came out with our first price list for the 2007 season in November 2006. This price list showed a reduction from the 2006 season. At year end 2006 we could see that there was a need for a further reduction in the price for seal pelts as the world prices for mink had been further reduced.

When setting the price that we can pay for seal pelts, there are many factors that have to be considered. One of the big factors, that has to be considered, is certainly the general price level in the fur market. A reduction in the price levels in the fur market in general will have an effect on the world market price for sealskins. No matter how much we try, we simply can not keep the price for sealskins in the international marketplace at a very high level during such times. Substitutes take over the place of sealskins and the sales for sealskins stop. The price that we have been paying this season is what we consider a very high price in today's market. Our indicators show that the world price for sealskins will not increase during the next few months. As such, we are not able to pay a higher price than we have done so far.

During 2006 we paid a very high price for seal pelts as it seemed that the world market had not yet seen the top level for sealskins prices, in comparision to other furs. When the high priced sealskins from 2006 hit the markets sales became difficult, but some did sell, but by year end 2006 all sales stopped. Sales prices have had to be reduced twice since January 2007 and we see no signs of being able to increase prices during the next few months.

It is unfortunate that other companies seem to be able to pay a higher price for seal pelts at the moment. We especially notice that with these other companies there appears to be no incentive for sealers to take care of the quality of their product. We are the only processor of sealskins in Newfoundland and Labrador that only handles sealskins and as such we have no way to make a business connection between seals and the need for other fish species, but this may have to change in the future. This year, 2007, we have celebrated our 50th Anniversary in Newfoundland and Labrador and certainly we plan to continue for many more years.

We very much appreciate all the sealers who have sold their seal pelts to us over the past 50 years and especially those who sold to us this year. We promise to continue with our marketing worldwide to make sure that there continues to be a market for sealskins. We can stand up proud together and say that it is largely because of you selling seal pelts to us that there is such a good market for sealskins in the world today. The world demand for sealskins does not come automatically, a large share of our margins on sealskins would go to marketing, in fact we have been leading the field with marketing of sealskins worldwide during the past several years and feel at least partially responsible for the fact that there is such a market today.

We can only ask for your understanding of the market situation. In return we can promise that we will continue our involvement in the sealing industry and our marketing efforts will continue as well.

Knut A. Nygaard, Managing Director

John C. Kearley, General Manager

This entry has been revised 3 times
Last revision on Wednesday, May 23rd 2007 at 1:49pm NDT

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