Finance
Leather China is taking the opportunity to buy half leather at a low price
Dhaka, July 25: The biggest brands of leather products in the world are European-American. Buyers of those brands give utmost importance to quality, environment and management of tanneries while buying leather. Must have Leather Working Group (LWG) certificate. The only institution in the country has that full certificate. That is why Bangladesh is lagging behind in the world market even though the quality of leather is good. Using this opportunity, Chinese companies are buying leather at a low price. China does not attach much importance to this certificate.
Although unable to provide specific information, Bangladesh Tanners Association (BTA) says that about 70 percent of leather and leather products are exported from the country. Half of the exports go to China alone. The remaining 30 percent is used in the local industry of the country.
According to the data of BTA, among the exportable leather, Japan, South Korea, Vietnam and three European countries, England, Italy and Portugal, export the most. Besides, some skins are sold in some countries of America. The amount of leather exported by these countries is equal to or slightly more leather is exported only to China. Where the price of leather is less than half of those countries.
In this regard, BTA General Secretary Md Sakhawat Ullah told Jago News that we are forced to stay in China's syndicate market just because the compliance issue is not right. I can't use it even though it has unlimited source worldwide. Not certified by the Leather Working Group (LWG), the global certification body for the leather industry. As a result, I am failing to capture the big market. Again, it is not possible to ensure the fair price of leather in the local market.
Traders say they are forced to export leather to China at low prices. At present, sales of leather products have increased in various countries of Europe and America after overcoming the effects of Corona. As a result, prices in the world market also increased. China is taking half of the leather from the country at a very low price.
