Sao Paulo, Brazil, 20 Nov – Brazilian lether exports totalled US$1.68 billion from January to October, a year on year fall of 8 percent, according to the Brazilian association for the leather tanning industry, CICB.

Sales this year are expected to total US$2 billion, or US$500 million less than previous targets set.

The devaluation of the dollar (until September) and high interest rates worsened by the international crisis were pointed to as the main factors for the fall in revenue from Brazilian leather exports.

The main markets for Brazilian leather were China and Hong Kong, with 32 percent of total exports, followed by Italy with 27 percent.

The state of Sao Paulo remainder the leather export leader, with 31 percent of the total and Rio Grande do Sul was placed second with 26.6 percent of the total. (macauhub)