Bangladesh: prices not fixed for Eid-ul-Azha
Prices of cattle hides in Bangladesh have not been fixed for the Eid-ul-Azha this year after the demand and price of leather fell in the international market.
“Though the tannery owners and traders had fixed prices to collect cattle hides matching the international market in past three or four years, the prices cannot be set this year due to the uncertainty created by the depression in the international market,” said president of the Bangladesh Finished Leather Goods and Footwear Exporters Association (BFLGFEA), Belal Hossain.
He said the prices of leather in the international market have been declining for past two months. According to Mr Hossain, local traders sold high grade finished leather at $2.2 per square foot and low grade at $1.15-1.25 two months ago. Now the average rate is $1.4-1.5. Around 50% of the total supply of raw leather comes from the cattle slaughtered in Eid-ul-Azha.
Bangladesh Tanners Association president Shahin Ahmed said orders had increased before the Eid-ul-Azha in past years.
