Home / Knowledge / News / Leather tanneries expect resurgence after Eid

Leather tanneries expect resurgence after Eid

24
Nov '09
The export oriented leather industry is optimistic that it will be able to stage a recovery from the slowdown of the last few months, mainly due to the upcoming Eid-ul-Azha festival.

This upbeat mood stems from the fact that during the festival, a large number of animals are sacrificed as per rituals and they are expecting an increase in quantity of hides in the current year.

Traditionally 50 percent of the hides that the tanneries procure each year, come from the Eid festival. They process around 220 million sq. feet per annum, of which around 100 million sq. feet is bought around Eid.

The last two months have been good for the tanneries as they have been able to clear their inventory built over the last few months due to a resurgence of orders from China and Hong Kong and have been able to offset the low demand from domestic manufacturers.

Leather export fell by 24.55 percent in the July-September period of the current fiscal year to touch US $45.46 million, while export of footwear during the quarter reached $56.22 million, down 2.95 percent. The main buyers of its leather goods are the countries of the European Union and Far East countries.

Prices of finished leather and products fell by an tremendous 30-40 percent in the last one year, which has resulted in heavy losses for the tanneries, following which prices of raw hide too followed suit and declined from Tk 70 per sq. feet in 2007 to Tk 35 per sq. feet in 2009.

Fibre2fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Textiles | On 8th May 2021

French Development Agency to invest $83m in Ivory Coast cotton sector

Over a period of five years, the French Development Agency (AFD) will ...

Pic: Juki

Apparel/Garments | On 8th May 2021

Japanese companies collaborate to develop sewing machine business

Juki Corporation and Pegasus Sewing Machine Mfg have entered into a...

Pic: Rocky Brands

Apparel/Garments | On 8th May 2021

Rocky Brands expands Made in America capabilities

Rocky Brands has expanded the offering of its Made in America product ...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Estimate loss of $8-$10 billion in turnover

Textile Industry, Head honchos

Textile Industry
Head honchos

Virtual reality would be the new normal

Textile Industry, Head honchos

Textile Industry
Head honchos

We are staring at livelihood crisis for weavers

Nina Smith,

Nina Smith

GoodWeave International, a nonprofit working to end child, forced and...

Vikram Juneja,

Vikram Juneja

Jaquard is a training institute providing a highly specialised training...

Emmi Berlin,

Emmi Berlin

With the support of the first investors - Finland's Technical Research...

Shujaul Rehman, Garware Technical Fibres

Shujaul Rehman
Garware Technical Fibres

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Wolfgang Plasser, Lenzing AG

Wolfgang Plasser
Lenzing AG

The Lenzing Group is an international company headquartered in Austria...

Johann-Philipp Dilo, Dilo Group

Johann-Philipp Dilo
Dilo Group

German company Dilo Group is one of the leading equipment suppliers of...

Ramya Rao & Kavea R Chavali, Kalaneca

Ramya Rao & Kavea R Chavali
Kalaneca

<div>The journey of Kalaneca (kala-Art, Neca- Nikaah) formally began in...

Archana Jaju, Label Archana Jaju

Archana Jaju
Label Archana Jaju

<b>Archana Jaju</b>’s Hyderabad-based eponymous label works with artisans...

Vidur Adlakha & Riccardo Bennidini, La Fuori

Vidur Adlakha & Riccardo Bennidini
La Fuori

With an active presence in US, Italy and India, clothing brand La Fuori...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search