(MENAFN- Colombo Gazette)
Bangladesh is lagging behind in the world market even though the quality of the leather is good as the traders are forced to export leather to China at low prices.
As per the guidelines, those who sell leather must have a Leather Working Group (LWG) certificate, the only institution in the country that has that full certificate.
Using this opportunity, Chinese companies are buying leather at a low price. China does not attach much importance to this certificate, reported Bangladesh Livenews.
Although unable to provide specific information, Bangladesh Tanners Association (BTA) says that about 70 per cent of leather and leather products are exported from the country. Half of the exports go to China alone. The remaining 30 per cent 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 than leather is exported only to China, where the price of leather is less than half of those countries, reported Bangladesh Livenews.
In this regard, BTA General Secretary Md Sakhawat Ullah told Jago News that Bangladesh traders 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 sources 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,” said Ullah.
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 the COVID-19 pandemic, reported Bangladesh Livenews.
As a result, prices in the world market also increased, however, China is taking half of the leather from the country at a very low price.
Most exporters cannot take advantage of the increase in the price of leather in the international market Because there is no export due to a lack of LWG certificate.
In addition to raw leather, leather footwear, belts, wallets, various types of ladies' bags, various types of boxes, jackets, hand-gloves, and car accessories are being exported from Bangladesh. (ANI)
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