In the first quarter of the current fiscal year, the Leather and Leather Products Industry Research and Development Center (LLPIRDC) generated a revenue of USD 7.6 million, with a target of earning USD 45.7 million from exports in the entire fiscal year.The planned exports consisted of leather shoes, bags, gloves, semi-finished and finished leather, primarily targeting China, India, the United States, and Italy. However, the leather sector faced challenges that resulted in below-expected performance, despite an initial export earnings target of USD 11.4 million for the first three months of the fiscal year.LLPIRDC’s Manager Mohamed Hussain identified several obstacles, including underutilization of technology, a stagnant global market for leather products, difficulties in acquiring raw leather, reduced factory production, transportation issues, limited market reach, and a shortage of resources. To tackle these challenges, a comprehensive short, medium, and long-term skin development strategy has been formulated and implemented from 2023 to 2032. The strategy aims to expand the destination countries for leather and leather products, promote domestic market utilization, domestically produce imported chemicals, and implement other solutions. The strategy also aims to increasing the supply of salt for leather production, providing training to leather producers, and encouraging the revival of previously dormant tanneries. (ICE ADDIS ABEBA)

Fonte notizia: Addis Zemen & merkato