Sunday, February 23, 2020 | ePaper

Rawhide prices crash to historic low

Active market syndicate blamed:Small traders suffer massive loss

  • Print


Some skin traders dumped about 900 rawhide at a grave-like big hole, protesting throwaway prices from buyers due to involvement of syndicate in manipulating the hide market. This photo was taken from Sunamganj's Jagannathpur upazila of Sylhet on Wednesd

Gazi Anowar :
The prices of rawhide witnessed a major crash this year thanks to an active market manipulation by a 'powerful' syndicate, insiders said.
They said that rawhide prices have slid almost to the half of the government fixed rates as hide merchants and tanners formed an unholy nexus to exploit the seasonal traders by fixing unreasonable prices excusing fund crisis and fall in global demands for leather and leather goods.
The government earlier fixed cowhide at Tk 45-50 a square foot in Dhaka and Tk 35-40 a square foot for outside Dhaka while the prices of castrated-goat skin at Tk 18-20 a square foot and that of goatskin at Tk 13-15 a square foot across the country.
But seasonal traders were forced to sale a big size cow/buffalo rawhide at Tk 200-400 on an average while goatskin at Tk 25 to Tk 30 only sending the seasonal traders in great misery.
Last year, a big size cowhide was sold at Tk 600-800 while goatskin at Tk 50-70.
Hide merchants claimed that prices of rawhides this year have hit four and half decades low since 1974, causing a dead blow to the small and seasonal traders.
The seasonal traders, who individually bought hides throughout the country during Eid-ul-Azha, were not getting back even the price they paid to buy the hides.
Monir Ahmed, a seasonal trader at the city's Jurain told The New Nation yesterday that he bought 53 big size cowhides paying Tk 600-700 per piece on average, but he sold them at Tk 500 per piece.
"I had made Tk 7,000 in profit from 43 hides last year, but this year I have to face massive loss due to steep fall in rawhide prices," he added.
On the other hand, local mosques and madrasa authorities have failed to sell rawhides, which they get from donation, because seasonal rawhide traders were not even shown interest to buy small size hides due to crisis of preservation.
Insiders feared that 30 to 40 percent hides would be spoiled this year because of lack of proper preservation.
Bangladesh Hide and Skin Merchant Association President Haji Md Delowar Hossein told reporters that they were not been able to buy hides of sacrificial animals from the seasonal traders at prices fixed by the government this year because they did not have enough money to buy hides.

More News For this Category

AL leader killed in Bandarban gun attack

UNB, Bandarban :A local Awami League leader was killed and five other people were injured in a gun attack by miscreants at Jamcharipara in Sadar upazila on Saturday evening.Being panicked

GP to pay Tk 1,000 crore to BTRC today

Staff Reporter :Private mobile operator Grameenphone (GP) on Friday said it will deposit Tk 1,000 crore to Bangladesh Telecommunication Regulatory Commission (BTRC) on Feb 23 as ordered by the apex

Patients’ sufferings mount

Reza Mahmud :Patients in almost every hospital in the country are suffering seriously due to huge shortages of nurses.  Sources said, health sector has lacks of adequate nurses as the

Banking sector now hostage to a quarter: CPD

Staff Reporter :Distinguished Fellow of the Centre for Policy Dialogue (CPD) Dr Debapriya Bhattacharya on Saturday alleged that the country's banking sector is now hostage to a handful of individuals

Tributes paid to Language martyrs

Tributes paid to Language martyrs

Staff Reporter :The nation paid respects to the martyrs of the 1952 Language Movement on Friday, marking Amar Ekushey, the Language Martyrs' Day and the International Mother Language Day.The Language

Rizvi, 9 others injured as police charge batons in Mirpur

Staff Reporter :At least 10 leaders and activists of the BNP, including its senior joint secretary general Ruhul Kabir Rizvi, were injured as police charged on their procession in the

Unnecessary panic over coronavirus may cause more trouble: IEDCR

Staff Reporter :Institute of Epidemiology, Disease Control and Research (IEDCR) on Saturday warned that spreading of unnecessary panic about the coronavirus will hinder efforts to prevent the disease."Rumours should not

BD man 'infected with coronavirus' in UAE

Staff Reporter :Two more people in the UAE, including a 39-year-old Bangladeshi, have tested positive for coronavirus (COVID19), the UAE Ministry of Health and Prevention (MoHAP) announced on Friday.This brings

2 killed in Sylhet 'gunfights'

UNB, Sylhet :A suspected robber and an alleged terrorist were killed in separate gunfights in Bishwanath and Golapganj upazilas early Saturday.A suspected robber was killed in a reported gunfight with

First Italian dies of coronavirus

Reuters, Milan :An elderly man in the northern city of Padua has died after being infected with the coronavirus, becoming the first Italian victim of the disease, health minister Roberto