Ads
Ads

Decreased supply drives rawhide prices slightly up on 2nd day of Eid

Decreased supply drives rawhide prices slightly up on 2nd day of Eid

Ads

Traders are buying rawhides at a higher price of Tk800-Tk1,000 each on the second day of Eid.

Senior Correspondent

Publisted at 5:37 PM, Tue Jun 18th, 2024

Share News

The supply of rawhides in the city’s Lalbagh’s Posta wholesale market decreased significantly on the second day of Eid, with prices going slightly up.

During a visit to the Lalbagh’s Posta area on Tuesday, rawhide traders and tanners were seen waiting in front of their shops and on the roads to buy rawhides.

The government fixed the price of salt-cured cowhides at Tk55-60 per square foot and salt-cured castrated goat hides at Tk20-25 per square foot in Dhaka city. Outside Dhaka city, the government fixed the price of cowhides at Tk50-55 per square foot and castrated goat hides at Tk18-20 per square foot.

Shahdat Hossain of Shahdat & Co said as the supply of rawhides decreased on the second day of Eid, they are buying rawhides at a higher price of Tk800-Tk1,000 each.

Poor Demand for Castrated Goat Rawhide

The demand for castrated goat rawhides is abnormally low in the city’s rawhide markets. Rawhide traders cited two main reasons for the poor demand for castrated goat rawhides.

Mohammad Shahjahan, who has been involved in the rawhide trade for the last 30 years, said, “Most of the castrated goat rawhides coming to the market are faulty. Butchers know that the price is low, so they pay little attention when separating the rawhide. As a result, 90% of castrated goat hides are cut and faulty.”

He added that another reason is the low profit margin from goat hides, considering the costs that include curing with salt, labor costs, and storage in wholesale shops.

Shahjahan mentioned that he has bought around 300 castrated goat rawhides this season for Tk10-20 each, and sometimes free of cost, as many people are discarding castrated goat hides in the garbage.

When asked about this season's business, Aftab Khan of the Bangladesh Hide and Skin Merchants Association said that Eid-ul-Azha has become increasingly important for the rawhides and leather industry.

 “In the past, around 40% of rawhides were collected during Eid. But now, around 62% of rawhides are collected during Eid-ul-Azha, with the remaining 35-38% collected throughout the year,” said Aftab Khan.

Ads

related news