The government, in collaboration with businesses in the leather sector, on Monday set the prices for salted rawhides of cows to be sacrificed in the upcoming Eid-ul-Azha festivities at Tk 55-60 per square foot within Dhaka city and Tk 50-55 per square foot outside the city.

Eid-ul-Azha, one of the bigest religious festivals for Muslims, is scheduled to be celebrated in the country during the third week of June.

During a meeting at the Bangladesh Secretariat, State Minister for Commerce, Ahsanul Islam Titu, convened with leaders from various associations including the Bangladesh Finished Leather, Leathergoods and Footwear Exporters Association, Bangladesh Tanners Association, and Bangladesh Hide and Skin Merchants Association to determine the prices.

Following the meeting, president of BFLLFEA, Mohiuddin Ahmed Mahin, announced the prices of rawhides at a press briefing held at the Commerce Ministry conference room.

He declared that the prices for castrated-goat rawhides would range from Tk 20-25 per square foot, while goat hides would be priced between Tk 18-20 per square foot.

Comparatively, in 2023, the prices set for rawhides of cows were Tk 50–55 per square foot in Dhaka and Tk 45–48 per square foot outside Dhaka. Additionally, the prices set for castrated-goat rawhides were Tk 18-20 per square foot, and goat hides were Tk 12-14 per square foot.

Mohiuddin also announced that the minimum prices for a salted cow hide would be Tk 1,200 in Dhaka and Tk 1,000 outside Dhaka.

During the press briefing, Ahsanul highlighted that determining rawhide prices was a commercial decision, aimed at ensuring fair compensation for those involved in the procurement process.

He emphasized the Commerce Ministry’s role in overseeing the implementation of these prices to prevent any deprivation of those involved in the animal sacrifice or entitled to proceeds from hide sales.

Ahsanul also acknowledged the significance of rawhides as a national asset for Bangladesh, expressing concern that they weren’t fetching appropriate prices, partly due to environmental compliance issues.

Chairman of the Bangladesh Tanners Association, Md Shaheen Ahmed, appealed for government support in making the sector compliant with environmental standards.

He explained that Bangladeshi businesses were compelled to sell leather and leather products at significantly reduced prices, attributing this challenge to the reluctance of global buyers to source products from Bangladesh due to insufficient environmental compliance measures.

Advocating for the reinstatement of cash incentives for the export of crushed leather, Shaheen said that the withdrawal of this support would have a severe impact on the sector.

Md Selim Uddin, the secretary of the Commerce Ministry, clarified that the minimum prices for rawhides of sacrificial animals were determined by considering international market trends, the local business environment, and input from various stakeholders.

He highlighted that an estimated total of 1.07 crore animals were anticipated to be sacrificed this year, with approximately 55 lakhs being cows and the remainder comprising goats and other animals.