Bangladesh leather industry continues to deteriorate due to arrears

According to a report by Bangladesh’s “Daily Star” on November 5, the market situation of Bangladesh’s leather and leather products industry was affected by the tannery’s arrears of 3.5 billion taka to cowhide and raw hide merchants. Continued deterioration. Bangladesh’s external exports of leather products have declined for three consecutive years, from US$1.23 billion in the 2016/17 fiscal year to US$1.08 billion in the 2017/18 fiscal year. In the 2018/19 fiscal year, the export value of leather products was only US$1.01 billion. The poor industry situation has led to a backlog of raw materials in tanneries, and a large backlog of raw hides and hides among raw hide merchants. There are large amounts of credit sales and arrears in both the purchase of raw hides and the purchase of raw materials by tanneries.