Business News

RAWHIDE PRICES SET AT 7-YR LOW DESPITE DOUBLING OF COW PRICES

The government on Tuesday kept prices of rawhides of animals to be sacrificed during the upcoming Eid-ul-Azha same as last year despite increase in prices of all products, including cow, in last one year. Commerce minister Tipu Munshi announced that the prices of cowhide would be Tk 45-50 a square foot in Dhaka and Tk 35-40 a square foot for outside Dhaka. Although the government retained the prices of rawhide same as last year, the prices would still be seven-year low. Prices of sacrificial animals, especially cows, have doubled in last seven years.

Tipu declared rawhide the prices following a meeting with leaders of Bangladesh Tanners’ Association, Bangladesh Finished Leather, Leathergoods and Footwear Exporters’ Association and Bangladesh Hide and Skin Merchants’ Association held at the ministry. Despite 5.8 per cent annual inflation rate and increase of the prices of all commodities including leather products, the government set prices of rawhide unchanged with the prices of last year as tanners proposed to decrease the prices. The buying prices of castrated-goat skin has been set at Tk 18-20 a square foot and that of goatskin at Tk 13-15 a square foot across the country. Like the previous years, rawhide traders proposed to decrease the prices of the item by 40 per cent from the prices that was set in last year showing excuse of export declining. According to the statistics, the government and traders have been cutting prices of rawhides of sacrificial animals every year since 2013 and the price of cowhide decreased by 47.36 per cent and that of goatskin fell by 63.63 per cent in last seven years while the prices of sacrificial animals almost doubled in the period. Last year, the government had set cowhide price at Tk 45-50 a square foot in Dhaka and Tk 35-40 a square foot for outside of Dhaka. The price of castrated-goat skin was set at Tk 18-20 a square foot and that of goatskin at Tk 13-15 a square foot across the country.

Source: New Age, 07.08.2019

Link: http://www.newagebd.net/article/80879/rawhide-prices-set-at-7-yr-low-despite-doubling-of-cow-prices



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