Things that make you to Think
Cover story on Bangladesh's distressed leather industry, the country's third highest foreign currency earning sector, which has become highly unstable due to lack of proper guidelines.
Tension is mounting in the country’s rawhide market after the recently observed Eid-ul-Azha. Due to the lack of government’s attention to the situation and lack of specific guidelines on the business, the mismanagement in raw cattle-hide trade continues this year as well.
Experts are concerned that if the tension in the industry persists, it will gravely affect the country’s third highest – right after Ready Made Garments (RMG) and frozen food – foreign currency earning sector.
Much like the past years, raw hide business is in quite a shaky state this year as neither the government nor the tannery owners have come forward to fix a buying/selling rate for cattle hide to be followed by the traders. Last year was an exception though; the government took the initiative in 2010 and fixed the price of cattle hide at Tk 55-60 per square feet. This year, however, the market is back to its old messy condition as the retailers, wholesalers and tannery owners are engaged in the usual blame game regarding the changing price of raw hide…
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