'Pathetic' outlook in Bangladesh
22/01/2009
The Bangladesh leather industry faces tough times owing to a sharp fall in world prices, one of its leading figures has said.
"Though we are doing well in exporting a number of leather products, the scenario is pathetic for the sector as a whole," Mohammad Saiful Islam, president of the Leathergoods and Footwear Manufacturers and Exporters Association of Bangladesh, told Reuters. "The prices of raw hides and finished leather have dropped sharply in the international markets and there is a huge stock-pile from last year."
He explained that member companies of his organisation had achieved 38% growth in exporting leathergoods during the first five months of the current fiscal year (July to November). Over the same period, however, there was a 20% decline in exports of raw hides and finished leather.
Share this story:
