Bangladesh's Leather Industry Is Facing A Shortage Of Funds And Exports Are Being Dragged Behind.
The People's Republic of Bangladesh Leatherwear Industrial loan defaults continue to increase, resulting in increased risk. Bangladesh banks have advised commercial banks to lend prudently in the leather industry. This year, the leather industry is bound to suffer from a shortage of funds. If the tannery industry can not get enough loans from banks, I am afraid that the export of leather products will also be delayed.
According to Bangladesh Bank, four state-owned commercial banks have provided loans to 135 leather factories by July this year, with a total loan amount of 15 billion 50 million Taka. Over the same period, the loan default reached about 10 billion 50 million Taka. The banking industry has lost a lot of interest.
The People's Republic of Bangladesh To curry leather The factory has always relied on bank loans to complete the procurement of raw leather. The upcoming Eid al AdhA is the season for centralized purchasing of tanneries. Basically, 50% to 60% of raw leather purchases are completed at this time. Last year, they obtained about 3 billion 850 million Taka bank loans for the purchase of raw materials for Eid al AdhA. This year's ambitious leather making enterprises have greater goals on Eid al AdhA, hoping to increase the number of raw leather purchases to 30%. Coupled with the rising price of raw leather, it is estimated that this year's procurement price will be higher. If more loans are not available, tanneries will not be able to achieve their original plans or even meet the growing global demand.
It is reported that the Bank of Bangladesh has confirmed that the loan amount is 4 billion 260 million Taka, but it is still not enough. And banks say they will only extend loans to businesses that have paid off last year's loans.
Bangladesh government Leather industry A grand plan has also been made. The target export revenue of the leather industry is $670 million in the current fiscal year. If tanneries do not have enough funds to get the raw leather needed to meet export demand, it is difficult to achieve such an objective.
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