Cattle price rises again on eve of Eid

The price of cattle, which had declined slightly on Saturday evening, has risen back to previous levels today (16 June), the day before Eid.

After visiting multiple cattle markets in the capital, it was observed that cattle prices are almost 25% higher than last year. Last year, prices were so high that a considerable number of cattle remained unsold, resulting in substantial losses for traders due to the high costs of taking them back home.

On Friday, traders refused to budge from their asking prices. However, as sales remained very low yesterday (15 June), they tried selling the cattle at lower prices last evening.

However, prices rose again this morning. Small and mid-sized cattle prices increased by 5%-15% in the first half of today, the last trading day, compared to the previous day.

Those who bought their sacrificial animal on Saturday at a lower price than that on Friday are happy. 

Bayezid Ahmed from Moghbazar did not want to test his nerve by waiting until the last moment. So, he bought a small-sized bull for Tk1.2 lakh at 12:00am from the Tejgaon haat today. The price might have been Tk1.1 lakh yesterday, he said.

Alam, a seasonal trader, brought seven cows from Mymensingh to Meradia haat in Banasree in the capital. He sold three cows in the first two days. This afternoon, he sold one cow at a better price than the previous day. With the remaining three, he wanders in despair.

If the rest of the cows can be sold at today’s price, business will be good this year., he said.

Last time, as the price fell too much, Alam had to take two unsold cows back home in a pickup van, which increased his expenses. 

“I will not take them back this time. I will sell them even if it is at a reduced price,” he added.

Farmer Bahar Mia brought his three cows from Narsingdi and sold two of them. He said if he sells at a lower price, he will not make any profit, it will only cover the costs. However, if he gets a slightly higher price, he will sell even the last cow.

Dulal Hossain from Chapainawabganj sadar, in partnership with four other traders, brought 32 cows of local and foreign breeds to Gabtoli cattle market on 13 June.

As of yesterday, 20 of the cows remained unsold, Dulal feared that they might have to take those back home because of a poor turnout of customers. 

Dulal, who has been engaged in Eid cattle trading at Gabtoli for the past 15 years, told The Business Standard, “In the past few years, both the supply of cattle and prices have been high. But we failed to attract as many customers as we had hoped.” 

“In fact, the number of traders in the market far exceeds the number of customers, and sales remain low,” he added.

Dulal further said Tk4 lakh have been spent on transportation and other expenses for the cattle, and he and his partners were not sure whether they would be able to regain this investment.

Mosaddikul Islam and Golam Rabbani from Rangpur, in partnership with three others, brought 65 sheep and goats to Gabtoli. They could sell only 4 goats and 1 sheep till noon yesterday.

Echoing Dulal’s sentiment, they said they failed to attract as many customers as they had desired. “Some people come and offer low prices.”

They said they would move their cattle to another market.

Visits to several other Eid cattle markets in the capital yesterday revealed a similar scene to Gabtoli. Traders expressed concerns about potential financial setbacks due to low sales and an oversupply of cattle.

They said most of the customers were interested in purchasing cattle priced within the range of Tk1 lakh.

A customer from Mohammadpur, Nuh Alam, told TBS, “The traders refuse to sell any large-sized cow for Tk1-1.5 lakh. Even for the medium-sized ones, they ask for Tk4 to 5 lakh each.”

He said as there is not much time left for Eid, he would purchase a small-sized cow within his budget.

Another customer, Shamim Patwary, told TBS that he came to the market early yesterday, and after wandering around a lot, he bought a goat weighing approximately 12 kg for Tk13,000.

He said he had gone to the market the previous day too, but could not buy any animal for Eid.

However, till afternoon yesterday, the sale of Shahiwal and Holstein-Friesian breed cows at Gabtoli market had not even reached 5% of the supply.

“Kala Babu”, a Friesian breed cow brought from Bogura priced at Tk12 lakh, and “Raja”, “Badsha” and “Raja Babu” – three large-breed cows from Dinajpur – at the Gabotli market remained unsold till the afternoon.  

Law enforcers maintained strong vigilance at the Eid cattle markets in the capital to ensure the safety of both traders and buyers.

“So far, no complaints of inconsistencies have been received from the cattle market. A 42-member police team is discharging duties in the Gabtoli market. The police booths are equipped with counterfeit banknote detection machines. If any problem is reported, action will be taken immediately,” Asad Mia, inspector (Operation), Darussalam police station, told TBS.

Additionally, medical teams of veterinary doctors were discharging duties at the markets.

Dr Kazi Alamgir Hossain, senior scientific officer of the Department of Livestock team, told TBS that his 20-member team provided first aid and consultation services to the cattle of around 100 farmers in the past two days.

He said collection of diagnostic samples for animal disease surveillance in the markets was ongoing.