Eid al-Adha and Qurban leather market momentum
On the occasion of Eid al-Adha, the second biggest religious holiday of Muslim societies, the added value of bovine and ovine skins makes a great contribution to the economies of countries.
Leather, which provides added value to the economies of countries, seems to be reflected in the raw leather trade. As of 2024, if we consider the prices of fattening animals in the sacrifice markets, the expectation in the markets seems to be that both the inflation values of the countries and the price increases in the animal markets will be reflected in the raw leather prices.
In addition, the raw leather from the slaughter of sheep during the Feast of Sacrifice provides added value to both the leather sector and the textile sector with its wool.
Muslim societies have gained momentum in raw leather with the Eid al-Adha, but this expectation depends on the statistics that will be released after the Eid according to the countries’ figures.
According to the Agriculture and Food Organization FAO and livestockdata.org, according to animal production statistics, there are 942.63 million cattle (Cow-Cattle-Bull-Calf) with average data and 1,756.833 billion ovine animals (Goat-Sheep) with average data in 2023.
According to regional breakdowns, approximately 25 million cattle and sheep and goats are slaughtered in Asian countries, approximately 12 to 14 million in Middle Eastern countries, and approximately 12 million in Balkan and European countries.
A series of steps by the Ministries of Commerce and Associations of the governments of the Muslim communities to ensure the correct and hygienic collection of raw hides will prevent the waste of leather and prevent the manipulation of the price of raw hides. These guidelines are meant to prevent any interference, to ensure proper collection and protection of raw hides and skins of sacrificial animals during Eid al-Adha.
The monitoring teams of the relevant government agencies, associations and foundations already established certification and certification measures to ensure the proper implementation of measures such as the establishment of a control cell to supervise the purchase and sale activities, the protection and transportation of raw hides will also protect the manipulation of the markets to some extent.
Sources:
Magazine Leather raw leather analysis
