Dhaka, June 1 -- Prices of sacrificial animal hides fell below the government-fixed rates this year, causing heavy losses to seasonal traders and small-scale intermediaries, insiders said on Sunday.

According to them, rawhide prices plunged due to tanners' liquidity crisis, rising preservation costs for salt and labour, and rising reliance on low-priced Chinese leather.

Visits to some areas including Mohammadpur, Tejgaon, Science Lab, Kamalapur and Posta (Lalbag) revealed that stakeholders blamed each other for the lower prices.

Although the government raised the price of salt-treated cowhides by Tk 2.0 per square foot (sqft) this year, market operators said the actual trading prices failed to reflect the official rates.

According to ...