As Eid-ul-Azha approaches, cattle markets in Dhaka are bustling with sacrificial animals arriving from various regions. A visit to markets in Narayanganj, Siddhirganj, and Dania on Friday, showed noticeably increased activity, with many buyers bargaining and selecting cattle for sacrifice.
Despite a surplus of 2.3 million animals, prices in the capital remain higher than in neighbouring districts. This raises the question: Why are prices still elevated despite the ample supply?
A buyer, Mohsin Ali, noted that market prices are much higher than at farms, with no good cattle under Tk150,000. He plans to continue looking for more affordable options.
In Narayanganj's Signboard cattle market, the upcoming Eid-ul-Azha holiday combined with the fact that it was a Friday led to a higher turnout than usual. Tuhin, a buyer, mentioned that prices were somewhat lower than in Dhaka, but not significantly.
Raju Islam, another buyer, said: “I purchased cattle for Tk80,000 from a farm about two weeks before Eid to avoid high market prices, a practice I have maintained for several years.”
This year, there's a higher demand for smaller cattle compared to larger ones.
What do traders say about prices?
In the Dania cattle market, Sultan Mia, a trader from Sirajganj, stated that he and six others had brought 12 cattle—six medium-sized, two large, and four small. Despite bargaining, they have not been able to get offers high enough to cover their costs, but they are willing to sell at a reasonable price.
Another trader, Hashem Bepari from Madaripur, highlighted the high costs involved and said: "Bringing three cattle to the market cost us nearly Tk70,000. Plus, there is the cost of their feed, care, and maintenance before sale. We need the right price to make a sale worthwhile. So far, the highest offer we've had is Tk230,000, but I will not sell for less than Tk250,000."
Matin Haji, a cattle trader from Saidpur, explained that cattle prices are influenced by breed, care, and other costs. He pointed out the rising costs of cattle feed, which now range from Tk3,000 to Tk4,000 per sack, up from Tk1,500. Additional expenses include trawler and truck fares and market fees. He raises cattle, hoping for a yearly profit.
What do statistics and experts say?
According to the Department of Livestock, this year has seen the production of 444,034 more sacrificial animals than last year, with nearly 13 million sacrificial animals ready, all of which are locally produced. This includes 5,360,716 cattle and buffaloes, 7,617,801 goats and sheep, and 1,850 other animals—about 2.3 million more than the demand.
Over the past five years, Bangladesh has achieved self-sufficiency in livestock production. Moreover, the mission and vision of the Department of Livestock are to ensure the supply of safe, adequate, and quality animal protein for everyone, provide animal health services, and fulfil the demand for animal protein through increased productivity and value addition.
However, the prices of meat and livestock have always increased during Eid and Ramadan. When asked why prices rise on such occasions, Dr Mohammad Reajul Haque, director general of the Department of Livestock, told the media: "Production costs vary from person to person and region, so we cannot set a uniform price. We can only estimate what might happen based on supply and demand. There will be no shortage of sacrificial animals this year, and the surplus supply over demand should reduce the tendency for excessive profiteering. We are monitoring to ensure that no artificial shortages are created."
