Raw hide traders incur losses

Our Correspondent BRAHMANBARIA, Nov 10: The small scale traders and middlemen here have incurred huge losses due to lack of demand for cow hides in the district. Leaders of the hide traders association blamed syndicate of some greedy tannery owners for not declaring purchasing rates in advance, creating complete uncertainly in trading of sacrificial hides. According to the sources, the local traders have purchased about 2.00 million pieces of hides of various animals from the people and have supplied those to the local -warehouses. Edris Miah, a trader, said he invested Tk 2.00 million for purchasing raw hides but had to sustain a loss of 25 percent. BSS reports from RAJSHAHI: Seasonal raw-hide traders have been facing an awkward position with their stockpiled hides as they couldn't send those to the biggest markets in Dhaka due to low price. Saider Rahman Khan, General Secretary of Natore Leather Traders Association, said most of the small traders have purchased raw-hides in higher price but the tannery owners in Dhaka aren't paying the price at present. In this situation, he said the procured hides couldn't be sent to Dhaka until and unless the price is enhanced upto the mark. Lutfor Rahman, President of Rajshahi Leather Businessmen Group, said the genuine and seasonal traders purchased hides this time according their wish and due to lack of rate fixed by any higher authority. Similarly, he said the wholesalers have also purchased the hides in an exorbitant price like the smaller ones. Currently, the hides are being preserved with salt amidst apprehension of incurring huge loss. Rahman said the lowest price of a cattle hide was Taka 800 and Taka 2500 was the highest according to size and quality. He, however, said the small-scale traders and middlemen are going to incur huge losses this time due to lack of demand with lower prices of sacrificial animal skins. He blamed 'syndicate of some greedy tannery owners' for not declaring purchasing rates in advance, creating complete uncertainty in trading of skins. Rabiul Islam, General Secretary of Rajshahi Raw Hide Traders Association told the newsmen that the middlemen incurred losses selling their purchased cow skins at rates of Taka 1,100 and 1,500 per piece after purchasing it at Taka 1,000 and 2,500 this time on an average. "Due to the prevailing uncertainty in the business, I purchased only 2,000 pieces cow skins and sold those at the purchased rates to save my capital for the first time in five decades of my ancestral business," he said. He requested the higher authorities concerned to intervene into the market situation to save the skin industry sector now.