Dhaka, June 8 -- mandated price hike, the rawhide market failed to meet expectations during Eid-ul-Azha, frustrating traders who say they were forced to sell below the official rates yet again.

The Ministry of Commerce had increased the price of cowhide in Dhaka by Tk 5-10 per square foot, setting the official rate at Tk 60-65.

But, ptraders said the market reality fell short. Most cowhides were sold at Tk 55-60 per square foot, with some deals made at even lower rates.

"We collected cowhides from sacrificers for Tk 750, but ended up struggling to recover costs," said Hefaz Ullah, a trader from Uttara.

"The best quality hides in this area fetched only Tk 800-820. We couldn't sell for more," he said.

Sirza, a trader from Badda, echoed...