Hide trade peaks before quarterly slowdown
DAR ES SALAAM, July 22 -- HIDES and skins industry slowed in the first quarter this year with production value falling 23.5 per cent from December as lower cattle hide output reversed strong year-end growth.
The latest Bank of Tanzania (BoT) Consolidated Zonal Economic Performance Report shows that the total value of hides and skins production declined to 2.77bn/- in March this year from 3.61bn/- three months earlier, a 23.5 per cent contraction.
Even so, the industry remained below the December peak but closes to the 3.05bn/- recorded in March last year.
According to the BoT Report, the slowdown was driven primarily by cattle hides, which account for the bulk of the industrys earnings. Production fell to 389,155 pieces in March this y...
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