The US $ in EURO
1,2170

What happened this week: Almost all activity was moved this week to the APLF in Hongkong – except the purchasing of abattoir hides in Europe. The interpretation of the results of the event in Hongkong will be different, depending on the material to offer and the expectations one had. If you draw the bottom line we met a lot of tanners from the magic triangle India, Pakistan, China who were very happy about the results of the show. Why? Just because the shift of production of leather and leather products moves on and they get more and more business which has been in Europe before. In addition to that, remain the growth rates of the economies in the East on very high levels and consequently also demand for consumer products continue to stay strong. Those, however who always turn strong demand into higher raw material prices got a lesson, at least for the moment. Many of our friends we talk to, know that we follow more the idea of the internal or real counter value of hides and it seems more and more, that this type of access to the market determines - more than ever before - the trend of raw material prices. At least until the general balance of supply and remains intact and the

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