Bangladesh raises rawhide prices ahead of Eid al-Adha, setting new rates for cow and goat hides and allowing exports to support traders. The move aims to stabilize the leather market during the peak season as nearly 13 million animals are expected to be sacrificed nationwide.
The interim government of Bangladesh has announced an increase in the prices of rawhide for the upcoming Eid al-Adha, the country’s largest religious festival involving animal sacrifice. This decision aims to stabilize the market and ensure fair prices for rawhide traders during the peak trading season.
At a press conference held in Dhaka on Sunday, Commerce Adviser Sheikh Bashir Uddin declared the revised rates, stating that the government has raised the price of salted cow rawhide by 5 taka per square foot compared to last year. This year, the price has been set at 60-65 taka per square foot in Dhaka and 55-60 taka outside the capital. The price of salted goat rawhide has also seen a hike, now ranging from 22 to 27 taka per square foot, up from last year’s 20 to 25 taka.
The adviser also emphasized the government’s decision to permit the export of unprocessed rawhide collected during Eid al-Adha. This move is aimed at fostering greater demand and ensuring better prices for traders, especially those operating at the grassroots level. The export option is expected to help regulate the market and prevent wastage, which has been a recurring issue in previous years due to storage and processing limitations.
Eid al-Adha marks the most significant season for rawhide collection in Bangladesh, accounting for nearly 80 percent of the annual total. This year, close to 13 million animals — mostly cows and goats — are expected to be sacrificed across the country during the festival, anticipated to fall on or around June 7.
To facilitate the festival, Dhaka city authorities have approved 19 temporary cattle markets in addition to two permanent ones. These markets aim to provide organized and hygienic spaces for residents to purchase sacrificial animals, ensuring smoother trade and animal management.
The price hike and export allowance reflect the government’s proactive approach to supporting the leather industry, which is a vital component of Bangladesh’s economy. Industry stakeholders hope these steps will lead to better returns for traders and reduce rawhide mismanagement, benefiting both domestic processors and potential international buyers.
As of now, the exchange rate stands at approximately 122.8 taka per U.S. dollar, giving context to the revised pricing for international observers and stakeholders.
