Bangladesh associations attempt to fix raw material price

Published:  14 October, 2013

Three organisations representing traders and manufacturers of leather goods in Bangladesh have jointly declared a fixed price for hides and skins on the lead up to Eid.

Bangladesh Finished Leather, Leather Goods and Footwear Exporters Association (BFLLFEA), Bangladesh Tanners Association (BTA) and Bangladesh Hide and Skin Merchants Association (BHSMA) made the joint announcement on prices.

The three organisations have fixed the price of Tk 85 90 (US$1.09 1.15) per sq ft for cows from the Dhaka district and Tk 75 - 80 (US$0.96 1.02) per sq ft for cows from outside of Dhaka, BFLLFEA president Belal Hossain told a press conference on October 12. 

Last year, merchants went for market-driven prices rather than fixing any price range. The fixing of prices has been made to prevent smuggling of hides in to the neighbouring countries such as India, according to Hossain. He said they are hoping to procure 6 - 6.5 million pieces of raw hide this year. Around 5 - 5.5 million raw hides were collected after last year's Eid-ul-Azha, the BFLLFEA president said.

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