Bangladesh to import raw hides
Bangladesh is to start importing raw hides in response to rising demand for leathergoods, according to national newspaper, The Financial Express (FE).
Export Promotion Bureau figures show that the country’s leathergoods sector grew by more than 60% between July 2011 and May 2012.
Rather than shipping raw leather, many Bangladeshi firms are
starting to add value by producing finished leather and leathergoods. But if
demand continues to increase, firms will need more raw material than they can
produce themselves and will need to start importing it.
"If the trend of increasing buying orders continues, Bangladesh won't need
to export finished leather within a short period of time," managing
director of Apex Adelchi Footwear and president of the Leathergoods and
Footwear Manufacturers and Exporters Association of Bangladesh, Syed Manzur,
told The FE.
"We are very much optimistic that the country would need to import
finished or rawhides in bulk immediately rather than exporting the same as the
export of the countries value added products of leather goods has been
increasing," Manzur, also President of Leather-goods & Footwear
Manufacturers & Exporters Association of Bangladesh (LFMEAB) added.
The country's total leathergoods exports totalled $83.28 million in the year to
May, compared with last year’s total of $51.99 million, and exceeding its $69.57
million target.
