US wet blue revival continues
Figures for US hide exports in the first quarter of 2024 show an increase in volume and value for shipments of wet blue, although exports of wet-salted hides were down.
In the January-May period, packers, tanners and traders exported a total of 6.75 million hides, bringing in revenues of $278.7 million.
Overall, these figures represent a fall of 6.2% in volume and of 11.3% in value.
However, taken in isolation, wet blue exports were up by 29% in volume to reach just over 1 million pieces, and by 22% in value at $101.3 million for the three-month period.
Vietnam has overtaken Italy as the biggest buyer of US wet blue, importing almost 375,000 pieces in the first quarter for a total spend of $40.5 million. Vietnam increased its wet blue imports by 123% in volume and by 121% in value.
Among Italian tanners, though, investment in US wet blue was down by 44% in volume to reach 175,000 pieces for the quarter, with a value of just over $20 million, a decrease of 42% compared to the amount Italian companies spent on US wet blue in the first quarter of last year.
