Leather sellers in Dhaka and other districts expressed deep frustration on Friday, May 29, 2026, as sacrificial animal hides were sold at nominal prices during Eid-ul-Azha. Many sellers alleged that buyers were offering far below the government-fixed rates. In several areas, goat and cow hides were seen piled up on roadsides, with sellers unable to find fair buyers despite busy market scenes.

Madrasa representatives, orphanages, and seasonal collectors said the market price did not match the official rate, while traders blamed tannery owners’ unpaid dues and cash shortages for the crisis. In Dhaka’s Posta area, large cowhides fetched as little as 500 taka, dropping to 100–200 taka if damaged. Seasonal traders in Chattogram and Satkhira reported similar conditions, with some abandoning hides on roads or burying them to avoid losses and odor.

In Sirajganj’s Tarash upazila, the market collapsed entirely, with few buyers appearing. Many sellers either left hides behind or donated them to local madrasas and boarding houses, reflecting a recurring crisis in the country’s leather trade.

Israel has incurred financial losses of 248 million dollars over the past two months due to the presence of US military aircraft at Ben Gurion Airport, according to a report by Israel’s public broadcaster Kan. The airport is being used by the United States for military operations, significantly limiting its civilian capacity.

Sharon Kedmi, Director General of the Israel Airports Authority, stated that the airport is currently operating at only one-third of its capacity because of the space and equipment occupied by US military refueling planes. He noted that nearly 70 percent of the airport’s operations have been restricted as a result of Washington’s ongoing military activities.

Kedmi warned that if the current situation continues, Israel’s financial losses could reach billions of dollars and more flight cancellations may follow in the coming days.

European Union leaders are increasingly alarmed by their economic dependence on China, with top diplomat Kaja Kallas comparing efforts to reduce reliance to a painful medical treatment. The bloc’s trade deficit with China has reached record levels, driven by a surge in electric vehicle imports. Brussels is debating how to respond to Beijing’s aggressive trade policies, as Chinese officials warn of retaliation against any protective measures.

Analysts and policymakers describe a growing sense of urgency within Europe’s industrial sectors, particularly in Germany, where manufacturers face mounting competition. France, Spain, and several other EU members have urged stronger action to defend strategic industries, while Beijing has denounced proposed EU policies such as the Industrial Accelerator Act as protectionist. China’s recent export restrictions on rare minerals and new regulatory powers over foreign-linked firms have further strained relations.

Upcoming G7 and EU summits are expected to address these tensions, with European officials seeking ways to rebalance trade without triggering a full-scale trade war. However, fears of Chinese retaliation and consumer dependence on low-cost imports complicate the path forward.

Tourist turnout in Kuakata, Patuakhali, remained below expectations on the second day of Eid-ul-Azha, despite extensive preparations by local businesses. Hotel and motel owners had cleaned facilities, offered special discounts, and readied themselves for an anticipated influx of 300,000 to 400,000 visitors. However, field observations on Friday showed the beach areas, including Zero Point and Gangamati, were largely empty, with most visitors being local day-trippers returning home by evening.

Small traders in hotels, shell markets, and handicraft stalls reported sluggish sales due to the lack of tourists. Business owners attributed the downturn to the country’s overall economic situation and high inflation, which they said forced many families to cut travel budgets. Hotel managers reported low booking rates, with only 20–30 percent occupancy in top-tier hotels and 10–20 percent in mid-range ones.

Tourism leaders expressed hope that visitor numbers might rise later in the week, though they warned that continued low turnout could make it difficult to recover earlier losses. Police authorities confirmed enhanced security measures across the beach and nearby attractions.

Global crude oil prices fell slightly as optimism grew over a possible extension of the ceasefire between the United States and Iran. The decline was limited, with market movements slowing after comments from US Vice President JD Vance, who said that while both countries were close to an understanding, no final agreement had yet been reached.

On Friday, Brent crude for July delivery dropped by 35 cents, or 0.37 percent, to 93.36 dollars per barrel. US West Texas Intermediate (WTI) crude fell by 63 cents, or 0.71 percent, to 88.27 dollars per barrel. Brent crude for August delivery also decreased by 46 cents, or 0.50 percent, to 92.24 dollars per barrel.

The modest price decline reflects cautious market sentiment as traders await confirmation of any formal ceasefire deal between Washington and Tehran, which could influence future oil supply expectations.

A severe slump has hit the sacrificial animal hide market in Taraganj upazila of Rangpur, where thousands of unsold hides now lie abandoned along roadsides due to the absence of fair prices. The Kursha market, once bustling during Eid, has turned stagnant amid a shortage of buyers, leaving seasonal traders, farmers, and small sellers facing heavy losses.

Local traders report that good-quality cowhides are selling for only 300 to 350 taka, while lower-quality or damaged hides fetch between 100 and 150 taka. Compared with last year, prices have dropped sharply, creating a major imbalance between buyers and sellers. Across five unions of Taraganj, hides have been left piled up in courtyards, mosque grounds, and near shops, raising environmental and health concerns.

Traders expressed frustration, saying they had purchased hides with high expectations but now face losses even at purchase prices. Many fear that if the situation continues, sustaining their businesses will become increasingly difficult.

Seasonal leather traders in Nabinagar upazila of Brahmanbaria are struggling to sell sacrificial animal hides after purchasing them from households during the recent Eid season. On Thursday, May 28, hundreds of traders were seen waiting late into the night beside roads with piles of raw hides but without any buyers. Despite the government’s decision to raise the price of salted cowhide outside Dhaka by two taka to 60 taka per square foot, traders said the increase had no impact in rural areas.

Local traders expressed frustration over the lack of wholesale buyers and government support for preservation. One trader said they had not received any salt to store the hides and might have to discard them if unsold overnight. Others alleged that syndicates among wholesalers were destroying the leather trade, leaving small seasonal traders in financial distress.

Some traders reported buying hides for 200–300 taka each but being forced to sell at nearly the same price, resulting in losses after a full day’s labor.

Several Qawmi, Hafezia, and orphanage-based madrasas in Sitakunda have collected sacrificial animal hides during Eid-ul-Azha, but are now struggling to sell them due to falling market prices, rising preservation costs, labor shortages, and lack of buyers. Many administrators said the hides, once a source of support for orphans and poor students, have become a financial burden. Some institutions fear the hides may rot if unsold.

According to madrasa officials, each hide costs between Tk 130 and Tk 350 to collect and preserve, while market prices are often equal to or lower than these costs. One madrasa reported selling hides at Tk 200 each after failing to attract city buyers. The Sitakunda administration distributed 25 tons of salt to four madrasas to aid preservation, but manpower shortages limited its use.

Stakeholders noted that hide sales are a key annual income source for madrasas and orphanages, funding food, clothing, and education for orphans. They urged government action to ensure fair prices, proper collection, and coordination with tanneries to prevent future losses.

In Parshuram upazila of Feni, seasonal traders faced severe losses as sacrificial cowhides were sold at extremely low prices, ranging from Tk 50 to Tk 200, during Eid-ul-Azha on Thursday evening. Many small traders gathered at the local cattle market to sell hides but found buyers unwilling to pay beyond Tk 200. According to the local livestock office, around seven thousand cows, goats, and buffaloes were sacrificed in the area, leaving both donors and traders frustrated over the poor returns.

Several traders described their losses, including a 70-year-old man who bought a hide for Tk 500 but could not sell it for more than Tk 200, and another who sold four hides for Tk 550 after paying market tolls. Despite the government’s fixed rate of Tk 57–62 per square foot for salted cowhide outside Dhaka and Tk 25–30 for goat hides, buyers were largely absent. Many donors instead gave hides to local madrasas and orphanages as charity.

Parshuram municipal administrator and assistant commissioner (land) SM Shafayat Akhtar Noor said the issue of low prices had been reported to higher authorities for further action.

The United States’ Strategic Petroleum Reserve (SPR) is rapidly depleting as President Donald Trump releases oil at a faster pace ahead of the midterm elections. The reserve, located in underground caverns in Texas and Louisiana, now holds crude oil volumes close to the lowest levels since the early 1980s, when the US economy and energy consumption were significantly smaller. The accelerated drawdown follows Trump’s earlier criticism of President Joe Biden for selling oil from the SPR during the 2022 campaign period to keep gasoline prices low.

Energy intelligence firm Kpler’s chief oil analyst Matt Smith said the barrels released from the reserve will eventually need to be replaced, which could push prices higher. The shrinking stockpile highlights the challenge US officials will face in refilling the reserve, potentially sustaining both demand and prices in the energy market.

The SPR, the world’s largest emergency crude oil reserve, has historically been used by both Republican and Democratic presidents to stabilize supply disruptions caused by wars, hurricanes, or other crises.

Industry, Commerce, and Textiles Minister Khandaker Abdul Muktadir made an unannounced visit to the Aminbazar leather sales center in Dhaka on Thursday, May 28, 2026. The inspection aimed to observe whether the collection, preservation, and marketing of sacrificial animal hides were being conducted properly. Commerce Ministry Secretary Md. Abdur Rahim Khan accompanied the minister during the visit.

During the inspection, the minister spoke with rawhide buyers, sellers, commission agents, and traders to learn about market conditions, pricing, storage systems, and overall operations. He emphasized that the government is giving top priority to ensuring proper management of hides during the Eid-ul-Azha season, describing the leather industry as a vital sector of the national economy. He urged all stakeholders to act responsibly.

Muktadir further stated that the government remains vigilant to prevent mismanagement, syndication, or wastage of hides and that regular field-level monitoring will continue.

Seasonal leather traders in Chattogram have again suffered major losses after buying sacrificial animal hides during Eid-ul-Azha. They purchased hides from neighborhoods for 400–450 taka per piece but were forced to sell them to wholesalers at Aturar Depot and Choumuhani markets for as low as 150–250 taka. Traders alleged that wholesalers ignored government-fixed prices and formed syndicates to buy hides at nominal rates. Many traders waited for hours without buyers and eventually sold at a loss to prevent spoilage.

Wholesalers denied the syndicate allegations, saying that processing and salting each hide costs around 450 taka, which must be deducted from the government rate. They claimed seasonal traders overpaid during collection, leading to their losses. The same problem occurred last year when unsold hides were left on streets. To prevent waste this year, two voluntary groups—Islami Samaj Kalyan Parishad and Gausia Committee—have started salting and preserving collected hides, targeting 30,000 and 100,000 pieces respectively.

Despite official promises of market monitoring, traders reported no visible administrative oversight, leaving them vulnerable to unfair pricing and financial losses.

Seasonal leather traders in Bogura are facing a severe crisis as the local market experiences a sharp decline in demand. Goat hides are reportedly being discarded in dustbins due to a lack of buyers. Traders said they are unable to sell their collected hides at reasonable prices, with cowhides fetching only Tk 200–600 after being purchased for Tk 500–800 in rural areas. Goat hides are selling for as little as Tk 5–20, far below the purchase price of Tk 30–60.

According to traders, the crisis has deepened because tannery owners in Dhaka owe them large sums of unpaid dues, leaving their capital tied up. Rising salt prices and higher preservation costs have further worsened the situation. Many traders fear losing their investment as transportation and labor costs exceed their sales revenue.

Buyers attribute the slump to poor-quality hides caused by lumpy skin disease in livestock. They said only high-quality hides are being purchased at government-fixed rates, while low-quality hides have little to no demand. Traders and wholesalers warned that if dues remain unpaid and the market does not stabilize soon, the leather trade could face an even greater crisis ahead.

Member of Parliament Aslam Chowdhury has announced a Tk 1,700 crore mega development project in Sitakunda, Chattogram. The announcement was made at the central Eid-ul-Azha congregation held at the municipal ground. According to Chowdhury, the project will be implemented through international private funding amounting to approximately 130 million US dollars.

The master plan includes the construction of a modern central model mosque in the municipal area at a cost of Tk 300–500 crore. The mosque will serve as a center for prayer, Islamic education, research, library services, and cultural and social activities. Additionally, nine modern regional mosques will be built across nine unions, each costing Tk 30–50 crore, along with two new mosques in the Pahartali and Colonel Hat wards. Old and incomplete mosques in rural areas will receive Tk 50 lakh to 1 crore each for renovation.

The plan also emphasizes public health and civic amenities, including a modern walkway around the historic Laldighi pond and initiatives to develop Sitakunda into a modern tourist city by upgrading natural attractions such as Chandranath Hill, Guliakhali Beach, and Banshbaria coast.

Global oil prices increased again following reports of a new US airstrike on an Iranian military base. During Thursday morning trading, prices rose by nearly 2 percent. Brent crude futures climbed by 1.90 dollars, or 2.02 percent, reaching 96.19 dollars per barrel. Meanwhile, US West Texas Intermediate (WTI) crude futures rose by 1.73 dollars, or 1.95 percent, to 90.41 dollars per barrel.

Analysts attributed the price surge to growing uncertainty in the Middle East, as hopes for a potential agreement between the United States and Iran diminished after the latest strike. The ongoing tension around the Strait of Hormuz and broader regional instability have added to market volatility and contributed to the upward pressure on oil prices.

The situation underscores the sensitivity of global energy markets to geopolitical developments in the Middle East, with traders closely monitoring further actions that could affect supply routes and diplomatic relations.