Agriculture and Livestock Minister Amin Ur Rashid on Saturday said leather prices in Bangladesh are largely determined by international market conditions rather than domestic demand.
Speaking to reporters in Cumilla, the minister said fluctuations in the global economy are having a direct impact on the leather sector, influencing both demand and pricing.
He explained that weakening purchasing power in many countries has led consumers to increasingly choose synthetic products over leather goods, affecting demand in international markets.
“The world is interconnected. Economic difficulties in one region eventually affect other countries as well,” he said.
According to the minister, Bangladesh exports a significant share of its leather and leather products. As a result, any decline in global demand or prices is reflected in the local market.
Amin Ur Rashid stressed the need for the country`s leather industry to adapt to changing market realities and focus on expanding export opportunities to remain competitive.
He made the remarks after a discussion programme in Cumilla marking the 45th martyrdom anniversary of Ziaur Rahman.
The event was held at the District Shilpakala Academy auditorium and was presided over by Rezaul Kaiyum.
Among the special guests were Haji Mostak Mia and Yousuf Molla.
Special prayers were also offered seeking eternal peace for Ziaur Rahman following the discussion.
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