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Pakistan’s leather industry hit by drop in hide prices amid record Eid sacrifices

by Web Desk
June 20, 2024
in Business
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Pakistan’s leather industry
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Although the rate of animal sacrifice in Pakistan has increased significantly this Eid, the concealment of harvested animals has decreased significantly.

Figures from the All Pakistan Leather Garment and  All Pakistan Tanners Association show that an estimated 6.7 million animals were slaughtered this year.

However, the value of hides collected decreased by $1 billion from last year, mainly due to warmer weather.

This year, despite a 10% increase in the number of victims, the total value of the collected hides is about $6 billion, down from $7 billion recorded in 2022. The severe heat affects the preservation and quality of hides.

According to the All Pakistan Tanners Association, the animals sacrificed included approximately 280,000 cows, 330,000 goats, 200,000 sheep, 300,000 cows and 100,000 camels. The market price for these hides varies, a cow hide fetches $1,500, a goat hide $400, and a camel hide $500.

Amanullah Aftab, chairman of the Leather Garment Association, said that this year’s offering provides three months of raw materials for leather exports. He also observed a growing trend towards mass sacrifice rather than individual sacrifice.

Experts speculate that better preservation methods, such as keeping onions dry and using salt when peeling, could significantly increase their value. Proper preservation can increase the total value of the secret from $6 billion to $10 billion.

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