Brazilian leather exports on the rise
According to the Brazilian Tannery Association (CICB), the country’s leather exports totalled US$714 million during the first five months of this year, an increase of 79% over the 2009 January to May period.
However, May exports were down 1% compared with April figures at $158 million as a result of lower hide export sales. The CICB is now expecting 2010 exports to reach $1.8 billion, up 51% year-on-year, but still behind 2008 exports, which totalled $1.9 billion.
The CICB believes relationships with the banks will be significant if leather exports are to grow, as credit will need to be secured. It also hopes the government will speed up the reimbursement process for export credits and will put in place automatic compensation procedures for tax credits.
