Seasonal traders sold hides at a lower price
Seasonal rawhide traders did not get the government set prices for sacrificial animal skins this year, as tannery owners stayed below the set prices at Dhaka's rawhide markets.
Seasonal traders said they had to sell hides at a lower price than the government set price as it would lose quality, and thus value, if they were not sold quickly.
Robiul, a wholesaler, said: "On Monday, I bought 500 pieces of rawhides in total. On an average, I purchased regular quality rawhide at Tk500 and high quality ones at Tk600."
Seasonal traders were asking for Tk700 to Tk1,000 for each piece of hide, but wholesale buyers did not go above Tk600.
Delwar Hossain, president of Bangladesh hides and skin merchant association, said: "All in all, the skin market this year is in dire situation.
“The tannery owners owe more than Tk350 crore. In previous years, they paid 10% to 20% upfront in cash, but only a handful paid this year.”
According to government set guidelines, the price of each 20 to 35 sqft rawhide would be around Tk900 to Tk1,750. But in reality, buyers from tanneries were buying it at Tk300 to Tk500.
Outside the capital, the price of rawhide fell even more.