Amir Hossain came to the Kamalapur cattle market in the capital last Sunday with 17 medium-sized cattle but by Thursday, he had only managed to sell three cows. Similarly, Md Farhad brought four small cows but could only sell two in three days.
This situation is not unique to these two traders; most cattle traders are facing a similar predicament. Despite Eid-ul-Azha being just one day away, the makeshift markets in Dhaka are crowded with a vast number of cattle and hundreds of aspiring buyers are bargaining with the traders but the number of successful deals is low.
The buyers are saying that the prices of cattle are much higher this Eid compared with the last one.
The inclement weather on Tuesday morning caused a thin presence of buyers which also led to a fall in prices for a while which left sellers worried but buyers content.
The buying and sale of sacrificial animals began in 19 locations across the two city corporation areas of Dhaka, including Khilgaon, Meradia, Jatrabari, Dholaikhal, Amulia, Kamalapur, Aftabnagar, and Basila, starting from last Sunday in preparation for the holy Eid-ul-Azha.
Cattle sellers from various districts, such as Kustia, Jasore, Khulna, Faridpur, Barishal, Tangail, Dinajpur, and Bogura, have come to these markets. Upon visiting the different cattle markets in the capital, it is evident that cows of all sizes have arrived, although there is a higher supply of small and medium-sized cows, which are relatively expensive.
On the first day of the Eid holiday, the number of buyers in the capital's sacrificial animal markets increased. However, heavy rains have disrupted sales. Cattle traders have noted that this year, there is an oversupply of sacrificial animals compared to the number of buyers in the market.
Consequently, sellers are unable to sell animals at their desired prices, considering the costs of rearing the animals and the price of meat in the market. Particularly, the sale of medium and large-sized cattle has significantly decreased in different markets.
Traders attribute the low number of buyers in the sacrificial animal market to the low purchasing power of people, resulting from high inflation and adverse weather conditions.
Rabiul, who came from Meherpur to the Kamalapur cattle market, expressed his concern, saying, "I have brought only one cattle. I am asking for Tk 3.5 lakh, but in order to make a minimum profit, I have to sell it for Tk 3.2 lakh. However, in the last three days, only one buyer offered Tk 3 lakh. I don't know if I can sell my cattle in this market."
Ashraful Haque, who travelled from Chuadanga to the Uttara cattle market, arrived with a Holstein Friesian bull weighing 1,140 kg. Initially, he asked for Tk 12 lakh for the enormous cattle named Badsha. However, as he could not find a buyer, he is now willing to sell the cow for Tk 6 lakh.
Mahmubul Alam, the proprietor of Dairy Agro, shared his experience at Amulia Model Town, another cattle market in the capital. He brought 11 cattle worth over Tk 3 lakh each from Faridpur three days ago, but only managed to sell four. Most of his cattle remain unsold due to a lack of customers, and some buyers have offered prices as low as Tk 2.5 lakh.
"People are seeking small and medium-sized cattle as they have limited funds due to economic challenges in the country," added Mahmubul Alam.
Abdul Khaleque, who travelled from Tangail to the Sarulia cattle market in Demra, expressed his dissatisfaction with the market situation this year, attributing it to the rain and economic downturn.
He mentioned that they are not receiving the proper price for their cattle, as customers are bargaining and offering as low as Tk2.5 lakh, despite the cost of his cattle being Tk 4 lakh each. While the demand for large cattle has decreased, the demand for small cattle remains sufficient.
Md Shariful Islam arrived at Sarulia Bazar with 55 cattle from Magura, and he has already sold 22 cattle within the price ranging between Tk 1 lakh and Tk 2.5 lakh. He shared that they had to spend Tk 35,000 on transportation, compared to Tk 25,000 last year. The overall cost has risen significantly, but the price of cattle is low, resulting in a profit of only Tk 2,000-5,000 per cattle.
Md Shaheen, a resident of Dayaganj in the capital, purchased a cow from the Kamalapur market for Tk 2 lakh on Tuesday. He expressed his surprise, as many had speculated that cattle prices would be higher this year. However, after visiting the market, he realised that it was not the case. He is happy with his purchase.
Many buyers mentioned that they cannot afford to purchase high-priced cattle due to high inflation and economic shocks. Therefore, they opt to buy small and medium-sized sacrificial animals for Eid-ul-Azha. Mizanur Rahman, a resident of Demra, mentioned that he purchased a cow for Tk 1.32 lakh. He stated, "The prices of sacrificial animals are somewhat higher compared to last year. However, given that most product prices in the country have increased while our income remains the same, we are compelled to buy smaller cattle."
Despite the challenges faced by sellers and the limitations of buyers, the market continues to navigate through these circumstances as Eid-ul-Azha approaches.
The Beribadh road in Hazaribagh was bustling with activity as the sacrificial animal market spanned approximately 2 kilometres. Cattle traders from various parts of the country flocked to the market with cows and goats. Despite some disruptions caused by rain on Tuesday, the market remained crowded with buyers and sellers. Cows below the price of Tk 1 lakh were scarcely seen in the market, and there were fewer buyers for low-priced cows.
Cow traders expressed that the selling rate was favourable as Eid day approached. However, there were differing opinions between buyers and sellers regarding the price. Most sellers mentioned that their profit margin per cow was not more than Tk 2500-Tk 3000. They were compelled to sell cows at a lower profit due to the inclement weather and the approaching Eid al-Azha.
Abul Kashem, a cow trader who arrived at the Beribadh animal market on Monday with 20 cows from Nawabganj, Dinajpur, shared his experience. He had purchased each cow for Tk 1.1 lakh to Tk 1.2 lakh but had not sold any by Tuesday afternoon. Abul Kashem stated that buyers were offering almost the same price he had bought the cows for. He added that he would not make a profit if he couldn't sell them for Tk 1.35 lakh to Tk 1.5 lakh.
Another trader, Mahfuzul Islam, brought 15 cows from Narail to the market on Sunday. By Tuesday afternoon, he had sold all the cows except four. Mahfuzul Islam mentioned that due to the unfavourable weather, he could only make a profit of Tk 2,500 to Tk 3,000 per cow, which was not as much as he had expected.
The challenges posed by the weather and market dynamics have impacted the profitability of cattle traders in Hazaribagh.
