Leather sector also jittery over coronavirus  | The Business Standard
Skip to main content
  • Home
  • Economy
    • Aviation
    • Banking
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Food
    • Habitat
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wheels
  • Epaper
    • GOVT. Ad
  • More
    • Subscribe
    • Videos
    • TBS Graduates
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Long Read
    • Interviews
    • Offbeat
    • Tech
    • Magazine
  • বাংলা
The Business Standard

Tuesday
November 28, 2023

Sign In
Subscribe
  • Home
  • Economy
    • Aviation
    • Banking
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Food
    • Habitat
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wheels
  • Epaper
    • GOVT. Ad
  • More
    • Subscribe
    • Videos
    • TBS Graduates
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Long Read
    • Interviews
    • Offbeat
    • Tech
    • Magazine
  • বাংলা
TUESDAY, NOVEMBER 28, 2023
Leather sector also jittery over coronavirus 

Industry

Jasim Uddin
07 February, 2020, 08:55 am
Last modified: 07 February, 2020, 09:02 am

Related News

  • Leather sector: Transition needed to face LDC-graduation
  • Sacrificial cow's leather price increased by Tk3-5 this year
  • Non-leather footwear looks to increase exports
  • WildWoven Leather Products: Tailoring wallets to your needs
  • Leather, leather goods industry fears export slump

Leather sector also jittery over coronavirus 

Exporters fear stock lots up to Tk120 crore

Jasim Uddin
07 February, 2020, 08:55 am
Last modified: 07 February, 2020, 09:02 am

The country's leather exporters are going to be hit hard for the coronavirus outbreak in China, which is their largest export destination, industry players said.

They fear if the situation prolongs, they may face huge financial losses as products amounting to Tk120 crore may end up being stockpiled.

"Around 100 containers of semi-finished leather remain pending for export to China. If the situation there does not improve in the next two weeks, we may face huge losses," said Shaheen Ahmed, chairman of the Bangladesh Tanners Association.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

FM Rafiqul Islam, director (technical) of the Dhaka Hides, said they have 15 Chinese buyers who have not been communicating with them since the last week of December.

"We may face a stock lot of leather worth about $1.2 million. We are worried about the development," Islam said.

He said each large tannery may face a stockpile of leather worth Tk10 crore to Tk12 crore if the Chinese holiday, that has been extended till February 17 due to the coronavirus outbreak, lingers on.

Islam estimated that altogether big tanners' losses will be Tk100 crore to Tk120 crore. 

Out of the 123 tanneries operating in the leather industrial park at Savar, only 10 to 12 are large and have capacity to store their products. Most do not have adequate storage.

The situation has made them so uncertain that the Dhaka Hides has stopped expansion activities of their factories.

Md Diljahan Bhuiyan, managing director of Bhuiyan Leather Complex, told The Business Standard that he has five Chinese buyers, who have placed orders for about 5 lakh square feet finished leather but at this moment, no one is willing to talk about their product shipments.

It is not only exporters but also raw materials importers who are dependent on China facing the same predicament.  

"I export to Europe with 100 percent raw materials imported from China. If the vacation in China gets further extension, we will be in deep trouble," said Jashim Md Al Amin, managing director of the Papella Limited, a leading sport shoe manufacturer and exporter.

Engineer Abu Taher, chairman of the Bangladesh Finished Leather and Leather Goods Exporters Association, said they are uncertain when the situation in China would improve.

He demanded government support immediately, otherwise, many tanneries will shut down and a big number of workers will lose their jobs.

Leather and leather products are the biggest foreign currency earner after apparels. Bangladesh exported $1 billion worth of leather and leather products last fiscal year and this year's target had been set at $1.1 billion.

Top News

leather / corona virus

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Representational image
    National Housing allowed to issue Tk374cr bond
  • Senior secretary Dr Ahmed Munirus Salehin Expatriates' Welfare and Overseas Employment Ministry made the disclosure while speaking at a meeting at Probashi Kallyan Bhaban on Tuesday (28 November). Photo: UNB
    Govt to provide Tk 270cr incentive to 2 lakh overseas returnees
  • File photo of Election Commissioner Rashida Sultana at her Agargaon office in the capital
    MPs must resign before contesting as independent candidates? EC Rashida statement raises confusion 

MOST VIEWED

  • JS polls: Full list of AL nominations
    JS polls: Full list of AL nominations
  •  File photo of a North Korean flag. REUTERS
    North Korea shuts down its embassy in Bangladesh
  • BSEC asks Bank Asia to explain 'vanished' investment in UFS
    BSEC asks Bank Asia to explain 'vanished' investment in UFS
  • TBS Infographics
    Thermax defaults on dollar loans under export fund: Cenbank
  • Chairman of the Minimum Wage Board Liaquat Ali Molla at a press conference in the Secretariat after the board’s 7th meeting today (26 November). Photo: TBS
    Tk12,500 minimum wage finalised for RMG, calls for increases unheeded 
  • Tax return time extension likely
    Tax return time extension likely

Related News

  • Leather sector: Transition needed to face LDC-graduation
  • Sacrificial cow's leather price increased by Tk3-5 this year
  • Non-leather footwear looks to increase exports
  • WildWoven Leather Products: Tailoring wallets to your needs
  • Leather, leather goods industry fears export slump

Features

A lesson on living the moment: 20 years of Kal Ho Naa Ho

A lesson on living the moment: 20 years of Kal Ho Naa Ho

5h | Features
In Barishal’s case, the low-cost of travel via waterways encourages people to migrate to Dhaka and other cities, like Chattogram. Photo: Syed Zakir Hossain

Why nearly a-fifth of people from Barishal moved to Dhaka

5h | Panorama
Photo: Salahuddin Ahmed/TBS

Political unrest hampers admission prep for HSC 2023 intake

7h | Education
The architectural design of Anukrom is a triumph of purpose and ingenuity – a rectangular structure that stretches east to west, crafting out two courtyards. Photo: Shakil Hai

Anukrom: A mother’s dream, a son’s guilt and an award-winning home

7h | Habitat

More Videos from TBS

Pakistan may lose its opportunity to host the Champions Trophy in 2025

Pakistan may lose its opportunity to host the Champions Trophy in 2025

21m | TBS SPORTS
NZ to scrap ‘generational smoking ban’

NZ to scrap ‘generational smoking ban’

2h | TBS World
Musk in Israel to get back advertising!

Musk in Israel to get back advertising!

4h | TBS World
Businessmen who were nominated for various seats from AL

Businessmen who were nominated for various seats from AL

5h | TBS Stories
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2023
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net