Syedpur hide merchants counting losses

NILPHAMARI, Nov 29: Hide and skin merchants of Syedpur could not sell their hide and skin yet which they purchased in the last Eid-ul Azha, due to low price offered by the tanneries of Dhaka. They said they would have to sustain huge losses if they sell those at the offered rate.
Sources said the merchants had to purchase the hides and skins at a high price due to competition with the Indian agents who purchased the same at a comparatively higher price for smuggling to India.
While contacted Azizul Islam, one member of hide and skin merchants association Syedpur said still there are 2000 pieces of raw hides of cows preserved by mixing salt and other preservatives. He said if they sell the stock at the offered rate they would have to incur a loss of nearly Tk 0.5 million and that their invested capital of Tk five million is lying there for months as they would have to pay interests of the banks.
 

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