In the words of a local trader, hides are being sold not because there is demand, but just to make room for more hides. His bitter joke captures all too well the reality facing the sector, which matches the situation in neighbouring countries, with ample availability and lacklustre demand. What is different from other countries is that the situation goes back much longer than in Brazil or Uruguay, with the current down trend setting in as early as the second quarter of last year.

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