Syndicates are behind the disastrous slump in prices of rawhide collected after Eid‑ul‑Azha, says Commerce Minister Tipu Munshi.

He made the remark while talking to the media at his house in Shalbon area of Rangpur town on Wednesday (Aug 14) morning.

The prices for rawhide had been fixed after holding discussions with leather business owners and traders before Eid, he said.

The unreasonably low prices offered for the hides on Eid day had forced the government to decide to export the hides, he added.

The leather business owners and traders, who say that the government move to export the hides would harm their business, are going to sit in a meeting on the issue on Wednesday.

Vowing to protect the leather industry at any cost, the minister said that the government would take further decisions on the matter after the leather businesses reach a decision of their won at today's meeting.