Leather prices depend on int'l market, not domestic demand: Minister Rashid
The minister said the global economy is currently experiencing a degree of instability.
Agriculture and Livestock Minister Amin Ur Rashid today (30 May) said that leather prices depend not on domestic demand but on conditions in the international market.
He told reporters, replying to a query after a discussion marking the 45th martyrdom anniversary of late president Ziaur Rahman at the District Shilpakala Academy auditorium in Cumilla.
The minister said the global economy is currently experiencing a degree of instability.
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Rashid said that as people's purchasing power has declined, many consumers worldwide are shifting from leather products to synthetic alternatives, affecting the international leather market.
"The world is like one family. Any economic crisis in one part of the world has an impact on other countries as well," he said.
The minister added that a large portion of the leather produced in Bangladesh is exported. As a result, any decline in global demand and prices is reflected in the domestic market, he added.
Amin Ur Rashid said that to ensure the sustainability of the country's leather industry, it is essential to adapt to changing international market conditions and place greater emphasis on expanding export markets.
The discussion was presided over by Rezaul Kaiyum, president of Cumilla Adarsha Sadar Upazila BNP.
District Council Administrator Haji Mostak Mia and Cumilla City Corporation Administrator Yousuf Molla addressed the discussion as special guests.
Following the discussion, special prayers were offered for the salvation of the departed soul of late president Ziaur Rahman.
