No cash bait for hair exporters

A state agency is not in favour of giving cash incentive to the exporters of natural human hair as export growth of this non-traditional item is in a positive trend.
The Bangladesh Trade and Tariff Commission (BTTC) has made this recommendation in line with the instruction by commerce ministry.
However, the BTTC is in favour of incentivising human hair export if it grows negatively in the near future.
Earlier, the ministry sought the commission's opinion on the issue of seeking cash incentive against the export of human hair by a private exporting firm.
Currently, the country is shipping human hair to China, Hong Kong, India, Italy and Myanmar.
According to the BTTC, the volume of export of such product is increasing significantly every fiscal year.
Bangladesh exported more than $99,000, $350,000 and $5,505,800 worth of hair in fiscal years (FYs) 2018-19, 2019-20 and 2020-21 respectively.
When asked, BTTC member (TPD) Sha Md Abu Raihan Alberuni says: "As human hair export is better now, the BTTC is not in favour of cash benefit for the sector."
The commission thinks the sector is totally a non-mechanical and labour-intensive industry. The product is collected from local markets and then specially moulded with the touch of the local labour.
Opportunity is aplenty to create employments of marginal people, it says.
Local value addition to this industry is huge thus making a major contribution to the country's export growth, the BTTC observed.
Considering export growth of the product, it says, the local production cost appears competitive.
Human hair has a significant commercial value globally.
The export volume of human hair (excluding hair extensions and wigs) was $78.8 million in 2020.
Hong Kong, India and Myanmar accounted for 86.6 per cent of the total export volume for hair last year.
Asia registered the highest earnings from human hair exports in 2020. It was $74.9 million or 95.2 per cent of the total global value.

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