Pakistan's leather industry records drop in hide prices

Despite a significant increase in sacrifices during Eid-ul-Adha, the collected animal hides could not complete the estimated financial target, according to the All Pakistan Leather Garments and Pakistan Tanners Association. 

The data shared by the associations depicted over 680,000 animals were sacrificed across the country, while the number of hides remained at Rs6 billion, less than the Rs7 billion in the previous year.

However, the total financial value of the sacrificed animals exceeded Rs500 billion with estimates suggesting that the hides alone are valued at approximately Rs85 billion.

According to the PTA, the sacrificed animals included at least 280,000 cows, 330,000 goats, 200,000 sheep, 300,000 buffaloes and 98,000 camels.

However, the market prices of hide also plunged, with cow hides being sold at Rs1,500, goat hides purchased at Rs400, and camel hides at Rs500.

Amanullah Aftab, Chairman Leather Garments Association, said that the collected leather would be helpful only for raw materials of three months’ exports.

He also expressed concern about the potential loss of 40 percent of hides due to the extreme heat caused by climate changes.

According to the association, the leather industry fulfils only 20 percent of its annual demand for hides.

He also noted the trend of collective sacrifices increased rather than individual ones.