Supply high in Dhaka cattle markets, sales still low
This year, the country has about 1.29cr sacrificial animals available, against a demand of 1.07cr
Rashedul Islam, a cattle farmer from Shingra upazila in Bogura, has travelled a long distance to sell the sacrificial animals he raised at the cattle market in the capital for the upcoming Eid-ul-Adha.
He has brought his animals to the Polytechnic Playground in Tejgaon, which has been transformed into a cattle market.
"Many cattle have come to the market, but sales have not gained momentum yet," Rashedul told TBS.
Keep updated, follow The Business Standard's Google news channel
Livestock traders say a large number of sacrificial animals have been arriving from all over the country for several days in the cattle markets in Dhaka for the upcoming Eid. The number of animals continues to increase every day.
This year there are over 22.77 lakh more sacrificial animals than needed, all of which have been raised domestically.
Although many visitors are coming to the markets each day to inquire about the prices of the sacrificial animals, actual transactions remain slow.
Rashedul Islam said, "I have a big cow. Many people are bidding for it, and so far, the highest bid has reached around Tk11 lakh."
Farmers, traders, and officials at the Department of Livestock Services say the number of sacrificial animals available locally this year far exceeds demand. However, there are allegations of some sacrificial animals entering the country from across the border, giving rise to concerns about receiving prices that align with the cost of production.
According to the Ministry of Fisheries and Livestock, this year, against a demand of around 1.07 crore animals, the availability of sacrificial animals in the country is around 1.29 crore.
Fisheries and Livestock Minister Mohammad Abdur Rahman said this year there are over 22.77 lakh more sacrificial animals than needed, all of which have been raised domestically.
Stakeholders say the number of animals sacrificed during Eid-ul-Adha depends on people's purchasing capacity. This year, inflationary pressures of around 10% may impact people's ability to go for the Eid sacrifices.
Cattle traders say most sacrificial animals are sold in Dhaka's cattle markets two or three days before Eid. They expect massive sales to begin on 14 June, when the Eid holidays begin.
Abdul Hannan, a cattle trader from Meherpur in Kushtia, has brought his animals to the Meradia cattle market in Dhaka. He said, "The demand for medium-sized cattle priced between Tk2.4 lakh and Tk4 lakh has increased. However, the supply of small cattle is greater than that of medium-sized ones."
"I have brought 14 cattle. Buyers are coming and bidding, but sales have not started yet," he added.
The availability of sacrificial animals in the country has increased due to the widespread production of feed. The number of sacrifices has also risen in tandem with the growth in people's purchasing power. There is a segment of the population opting for larger-sized cattle, which are domestically produced.
This year, altogether 16 temporary cattle markets have been established under the two city corporations of Dhaka. Additionally, two permanent cattle markets at Gabtali and Saruliya are also operational. Furthermore, sacrificial animals are being sold through various online platforms as well.
According to the Ministry of Fisheries and Livestock, there has been a significant shift in the pricing and availability of sacrificial animals in the country. Previously, sacrificial animals priced between Tk50,000 and Tk2 lakh were more common. However, due to the establishment of large-scale commercial farms and the breeding of improved varieties, cattle costing between Tk20 lakh and Tk30 lakh are now available, expanding the market significantly.
This expansion has led to the availability of cattle worth Tk1.5 lakh to Tk3 lakh, as well as cattle worth Tk5 lakh to Tk10 lakh this year.
According to the Department of Livestock Services, over one crore animals were sacrificed during Eid-ul-Adha last year. Of these, around 45.81 lakh were cows, 1.78 lakh were buffaloes, and 48.49 lakh were goats, along with several other animals, with a total market value exceeding Tk64,000 crore. In comparison, the market value of sacrificial animals was Tk42,000 crore in 2017.
Md Imran Hossain, president of the Bangladesh Dairy Farmers' Association, said, "The availability of sacrificial animals in the country has increased due to the widespread production of feed. The number of sacrifices has also risen in tandem with the growth in people's purchasing power. There is a segment of the population opting for larger-sized cattle, which are domestically produced."
He said, "We have received reports of cattle coming in from India and Myanmar through the border, which could potentially create adverse conditions for our farmers. The cost of rearing cows has already surged significantly this year, with farmers investing throughout the year for this market."
According to sources, around two lakh farmers exclusively rear various types of animals for Eid-ul-Adha. Additionally, many families also raise sacrificial animals in anticipation of the Eid market.
However, the recent spike in the price of livestock feed has been contributing to the overall increase in cattle prices. This situation could add economic pressure on people who are opting to sacrifice animals this year, stakeholders say.
According to the Integrated Dairy Research Network, animal feed prices increased by 20.6% in the global market last year, but surged by 54% in Bangladesh.
