Sunday, September 22, 2019 | 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

Money laundering by casino dons under investigation

Money laundering by casino dons under investigation

Investigators are looking for money laundering by casino dons and affluent individuals who were regularly visiting the unregulated gambling dens in Dhaka, as cash transacted there is astounding.   Dirty money

Crackdown on 4 Motijheel clubs

Staff Reporter :Police on Sunday conducted drives at four sporting clubs in city's Motijheel area on Sunday afternoon and seized casino boards, shisha and cash from there.The clubs are Mohammedan

Judicial officers asked to avoid social media

Staff Reporter :The Supreme Court administration on Sunday issued a guideline for using social media by the judicial officers.The guideline, formulated with the recommendation of the Supreme Court Special Committee

None will be allowed for casino business, says Asad

Staff Reporter :Home Minister Asaduzzaman Khan Kamal said on Sunday that the government will not allow anybody to operate illegal business like casino in the country.He told it to the

430 more patients hospitalised: DGHS

Staff Reporter :About 430 dengue patients have been admitted to different hospitals across Bangladesh in the last 24 hours.Till 8am on Sunday, 132 new patients were admitted in Dhaka and

JU students threaten tougher movement

UNB, Savar :Protesting students of Jahangirnagar University (JU) on Sunday threatened to go on a tougher movement if their Vice-chancellor Dr Farzana Islam does not step down within October 1.Mohammad

Rohingya couple killed in 'gunfight'

UNB, Cox's Bazar :A Rohingya couple was killed in a reported gunfight with police at Leda Rohingya camp hilly area on early Sunday.The deceased were identified as Din Mohammad, 32,

Govt's drive against corruption, misdeeds earns applause: Quader

BSS, Cox's Bazar :Awami League General Secretary Obaidul Quader on Sunday said the government's ongoing drive against corrupt individuals and wrongdoers got worldwide appreciation but such welcoming move made BNP

A DSCC bulldozer knocks down structures set up at Shahjahanpur Railway Colony in city on Sunday.

A DSCC bulldozer knocks down structures set up at Shahjahanpur Railway Colony in city on Sunday.

Baby dies falling from mother's lap in city

A eight-month-old baby girl died after falling off her mother's lap while getting into a human-hauler in the city's Jatrabari area on Sunday morning.The deceased was identified as Khadiza, daughter