Bangladesh: Better prices anticipated for Eid hides and skins
The current outlook for leather and leathergoods is giving rawhide traders and farmers hope of increased prices for the hides and skins generated from the upcoming Eid al-Adha festival.
Following a turbulent time where hide traders had seen arrears build up from the tanners, President of the Bangladesh hide and skins merchants association, Aftab Khan told local media “the flow of funds is better this year”, as tanners had cleared or greatly reduced their outstanding debt, adding “We hope a major portion of the remaining arrears will be paid before Eid-al-Adha"
With high demand for leather and leathergoods from both international and domestic outlets, Chairman of the Bangladesh Tanners Association, Shaheen Ahmed suggested that exports from those sectors could rise due to the recovery of western economies, and easing inflation.
Data from the livestock ministry suggests 13 million animals are ready to be sacrificed this year, including 8.5 million cows and 1.5 million goats, buffaloes and lambs.
Eid-al-Adha accounts for nearly half of the raw hides and skins produced annually in Bangladesh with tanneries, mostly located in Savar and Chattogram, relying on local suppliers for the skins of the animals sacrificed.
This year, the feast of the sacrifice is likely to fall on June 28.
Photo by md rifat on Unsplash
