In a surprising turn of events, Pakistan’s donkey market has experienced a dramatic surge in prices, reaching an unprecedented PKR 300,000. The primary driver behind this price hike is China’s growing demand for donkey hides, used in the production of cosmetics and traditional medicine.
A Lucrative Commodity
The increasing demand has made donkeys a lucrative commodity, particularly for those looking to export hides to meet Chinese requirements. However, this has led to a decline in local buyers, as soaring prices make it challenging for them to afford donkeys.
Global Demand and Domestic Impact
The rising costs reflect the global demand for natural resources in cosmetics and pharmaceuticals, influencing domestic markets in Pakistan. With no signs of slowing down, prices are expected to remain high, affecting local businesses and customers.
Pakistan’s Export Agreement with China
In June 2023, Pakistan approved the export of donkey hides to China, alongside other goods, aiming to formalize and regulate the trade. This agreement has further fueled the demand for donkey hides, solidifying their importance in the global market.
China’s Growing Need
China’s growing need for donkey hides is the primary driving force behind the price hike. Donkey hides are utilized in various cosmetic products and traditional Chinese medicine, making them a highly sought-after commodity.
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