Chinese imports of US raw hides increases

24 March 2006

In January and February, China and Hong Kong combined took 51% of US raw hide exports. This is 45% more than during the same time in 2004 and is presumably an attempt by Chinese tanners to stock up on as many raw hides as they can under the old handbook system which allowed imports without payment in advance of VAT and import duty. Once the handbooks have expired, one assumes business will slump while tanners use up their stocks so it will be a while before trading under the new regulations can be assessed.

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