Rawhide prices to stay stable

As the government has increased the price of cured rawhides for the upcoming Eid-ul-Azha, there is no possibility that the prices will decrease like last year, according to a business leader.

Instead, sellers will get higher prices this year, said Aftab Khan, president of the Bangladesh Hide and Skin Merchants' Association.

He says that the government's move to fix higher prices will have a positive impact on the market.

"So, I hope this year's market will go well," Khan added.

The government yesterday hiked the prices of cow rawhides that have been cured with salt by 6 per cent to Tk 50-55 per square foot in Dhaka during Eid-ul-Azha, which will be celebrated on June 29.

The commerce ministry made the decision during a meeting with leather traders at its conference room.

Outside the capital, the price of cured cow rawhides has been fixed at Tk 45-48.

Prices of cured rawhides stood at Tk 47 to Tk 52 per square foot in the previous Eid-ul-Azha, which accounts for roughly half of the rawhide supply for the export-oriented leather industry.

Meanwhile, the prices of cured goat rawhides have been fixed at Tk 12-20 per square foot in the capital and other parts of the country.

Commerce Minister Tipu Munshi said if traders manipulate the price, the export of cured rawhide will not be allowed.

Munshi also said that for proper management, everyone has been requested not to bring rawhide from outside Dhaka to the capital for seven days after Eid.

And as there is shortage of salt in the country, the minister urged everyone to preserve their rawhide with the mineral.

Eid-ul-Azha accounts for nearly half of the rawhide produced annually in Bangladesh. And tanneries, which are mostly located in Savar and Chattogram, rely on local suppliers for the skins of animals sacrificed.

Quoting data from the livestock ministry, Khan said 1.30 crore animals are ready to be sacrificed this year. This includes 85 lakh cows and 15 lakh goats, buffaloes and lambs.