The country is projected to spend billions of rupees on this Eid-ul-Azha, sacrificing an estimated 2.5 million cows, bulls and buffaloes with every animal having an average price of Rs 70,000. The staggering sum of Rs 175 billion is based on the figures of Pakistan Tanners Association (PTA) which is expected to collect 6.155 million hides as compared with 2016 when it collected 7 million hides.
With an increase in the price of red meat, prices of animals have also increased. Consumers too now realise they are buying lighter weight animals every year but are paying higher prices. A major reason for hike in prices of sacrificial animals in the past few years is the influx of small and big investors who are in for quick profits.
Sacrificing cows appears more popular in the country while goats are preferred in other parts of the country. According to Pakistan Economic Survey 2016-17, cattle production rose to 44.4 million in 2016-17 from 42.8m in 2015-16 and 41.2 million in 2014-15, followed by 37.7 million buffalo production in 2016-17 as compared to 36.6 million in 2015-16 and 35.6 million in 2014-15.
The survey further reveals that the country's livestock production included hides (16.4 million) and skin (39.2 million). Despite increasing cattle production trend, profiteers are forcefully increasing beef and goat meat prices by Rs 20-50 per kilogram every year. When questioned, traders gave the rhetorical response of increasing prices due to meat exports and smuggling of live animals resulting in shortage of animals.
Beef production hit 2.08 million tons in 2016-17 from 2.01 million tons in 2015-16 and 1.9 million tons in 2014-15. Mutton production went up to 701,000 tons in 2016-17 as compared to 686,000 tons in 2015-16 and 671,000 tons in 2014-15. Tanners expect a sharp fall in the prices of raw hides and skins due to declining price trend of these items in the international markets and a slump in leather goods demand.
Last year, tanners estimated total value of sacrificial animals' hides and skins at Rs 6 billion to Rs 7 billion, but this year they anticipate Rs 5 billion to 5.5 billion. However, unlike last year when the maximum price of cow/buffalo hide was Rs 2,000 each, this year it may range between Rs 1,000-1,200 per hide, market survey revealed.
Similarly, the price of goat hide is expected to hover between Rs 100-125 per skin as compared to Rs 175-225. Sheep skin price may range between Rs 70-90 per skin this year as compared to Rs 125-175 per skin last year. He said that due to poor purchasing and improper curing, a large number of hides and skins get damaged every year.
Pakistan is one of the biggest markets of the raw hides and skins in Asia and about 30-40 percent of the total produce is generated only on the occasion of Eid-ul-Azha. Hides are generally damaged due to hiring of unprofessional butchers. Moreover, a big percentage of the hides is wasted because of lacking appropriate knowledge about their preservation.