Economic Reporter :
Traders will announce the price of rawhide today for sacrificial animals of this year’s Eid-ul-Azha.
Talking to the New Nation, senior secretary of the Commerce Ministry Hedayetullah Al Mamoon on Thursday said businessmen would declare the price of rawhide Friday.
“We’ve asked them to fix a ‘reasonable’ price for the rawhide so no one is deprived of actual price,” he added.
Replying to a query, Mamoon said after announcement of the price, it would be understandable whether the price is less or high.
Earlier on September 5, Commerce Minister Tofail Ahmed at a meeting with the representatives of the country’s leather industry directed the traders to set price of rawhide on their own, but it should be reasonable in accordance with international market.
Representatives of leather industry today again met with the commerce minister at his ministry office and decided to announce the price today.
Bangladesh Tanners’ Association (BTA) General Secretary M Shakawat Ullah on Thursday told the New Nation that they will make the price public at a media briefing on Friday morning.
“We’ve fix the price after having meeting with all in the industry analyzing the international market price,” he added.
Last year, the price of rawhide was Taka 50 to 55 per square feet in Dhaka and Taka 45 to 50 outside the capital. Retailers used to complain that they count losses during the Eid-ul-Azha every year.
BTA said the global price of hide has “plummeted” and this should be factored in while fixing the price.
A trader preferring anonymity said they had proposed price for this year at Taka 45 per square feet in Dhaka and Taka 35 elsewhere.
Bangladesh processes around 220 million square feet of leather every year, half of which is sourced during this time, when millions of sacrificial animals are slaughtered across the country as part of the Eid ritual.
Commerce Minister Tofail Ahmed earlier said the traders were ready to supply around 3.3 million cows and buffalos, which was enough to meet the demand this year.
Traders will announce the price of rawhide today for sacrificial animals of this year’s Eid-ul-Azha.
Talking to the New Nation, senior secretary of the Commerce Ministry Hedayetullah Al Mamoon on Thursday said businessmen would declare the price of rawhide Friday.
“We’ve asked them to fix a ‘reasonable’ price for the rawhide so no one is deprived of actual price,” he added.
Replying to a query, Mamoon said after announcement of the price, it would be understandable whether the price is less or high.
Earlier on September 5, Commerce Minister Tofail Ahmed at a meeting with the representatives of the country’s leather industry directed the traders to set price of rawhide on their own, but it should be reasonable in accordance with international market.
Representatives of leather industry today again met with the commerce minister at his ministry office and decided to announce the price today.
Bangladesh Tanners’ Association (BTA) General Secretary M Shakawat Ullah on Thursday told the New Nation that they will make the price public at a media briefing on Friday morning.
“We’ve fix the price after having meeting with all in the industry analyzing the international market price,” he added.
Last year, the price of rawhide was Taka 50 to 55 per square feet in Dhaka and Taka 45 to 50 outside the capital. Retailers used to complain that they count losses during the Eid-ul-Azha every year.
BTA said the global price of hide has “plummeted” and this should be factored in while fixing the price.
A trader preferring anonymity said they had proposed price for this year at Taka 45 per square feet in Dhaka and Taka 35 elsewhere.
Bangladesh processes around 220 million square feet of leather every year, half of which is sourced during this time, when millions of sacrificial animals are slaughtered across the country as part of the Eid ritual.
Commerce Minister Tofail Ahmed earlier said the traders were ready to supply around 3.3 million cows and buffalos, which was enough to meet the demand this year.
