Padenga sees firm demand for products

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PADENGA Holdings (Padenga) says demand for its products has held strong and is expected to remain despite the Covid-19 pandemic.
The crocodile skins producer is also anticipating to successfully address the various quality challenges that it has had in the past and is “optimistic about further growth prospects.
“Demand for defect free skins remains strong and prices are anticipated to hold as long as the quality expectations of the premium market are satisfied,” Thembinkosi Sibanda, Padenga’s board chairman said last week in the company’s 2019 annual report.

“Although closed for much of March and April, French tanneries were anticipating to reopen mid-April and product supply has thus far, not been interrupted.
“Chinese markets for luxury products have reopened after their Covid-19 shutdown and European markets are anticipated to follow as full economic recovery begins. We forecast this operation will record growth in 2020,” he said.