Bangladesh hikes rawhide prices by Tk 5 for Eid procurement

The Bangladesh government has increased the prices of rawhide by Tk 5 per square foot ahead of Eid-ul-Azha.

Merchants in the sector have agreed to the increase and given assurances of better prices where possible.

The price of a square foot of salted cow or buffalo rawhide will be set between Tk 40-45 in Dhaka this year, an increase over Tk 35-40 per sq ft last year, said Commerce Minister Tipu Munshi after a discussion on setting prices on Thursday.

The price outside Dhaka will be set at Tk 33-37 per sq ft, an increase from Tk 28-32 per sq ft last year.

Commerce Secretary Tapan Kanti Ghosh had previously proposed a price of Tk 50-55 in Dhaka and Tk 40-45 outside Dhaka, similar to the prices in 2018.

But merchants mounted fierce opposition to the plan, putting forward their own proposal of a Tk 5 increase. The minister of commerce then accepted their proposal.

“We will accept your proposal,” he said. “Fulfil your end of the bargain. You have opposed fixing the price of rawhide with talk of free market economics. Fine. Buy above the set price where you can and prove it.”

The government fixed the prices of salted goatskins at a maximum of Tk 17 per sq ft.

The prices of unsalted rawhide were not discussed at the meeting, but rather the importance of adding salt to the hides soon after the sacrifice was stressed in order to preserve them in the warm weather.