Agriculture and Livestock Minister Amin Ur Rashid on Saturday said leather prices are determined by the international market, not domestic demand.
He made the remarks while responding to reporters after a discussion marking the 45th martyrdom anniversary of Shaheed President Ziaur Rahman at the District Shilpakala Academy auditorium in Cumilla.
The minister said the global economy is currently facing a degree of instability. He added that declining purchasing power has pushed many consumers worldwide to shift from leather products to synthetic alternatives, which has affected the global leather market.
“The world is like one family. Any economic crisis in one part of the world impacts other countries as well,” he said.
Rashid said a large share of Bangladesh’s leather production is exported. He added that any fall in global demand and prices is directly reflected in the domestic market.
He also stressed the need for adapting to changing global market conditions to ensure the sustainability of the country’s leather industry. He called for greater focus on expanding export markets.
Cumilla Adarsha Sadar Upazila BNP president Rezaul Kaiyum presided over the discussion.
District Council Administrator Haji Mostak Mia and Cumilla City Corporation Administrator Yousuf Molla attended the programme as special guests.
After the discussion, participants offered special prayers for the salvation of the departed soul of Shaheed President Ziaur Rahman.
