Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Tuesday, September 25, 2018 12:19:45 AM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

Jute, jute goods export sharply declines this fiscal

By Special Correspondent
Share your thought
Post a comment »
Read all () »

The country's jute and jute goods export recorded a sharp fall  in the current fiscal  year  (2013-1014). The reasons can be attributed to depreciation of Indian  Rupee on  the one hand and sluggish demand in the world market on the other.
The export earning fell  by about 30 per cent during the period, according to  Export Promotion Bureau(EPB) information. The country earned about US $592 million in July-January period as against US $646 million in the corresponding period of last fiscal year, EPB source told the media.
During the last few months India which has been importing between 55-60 per cent of the country's raw jute, has reduced the  volume   of its imports causing  decline in export.
Iran, another export destination of jute and jute goods has  slashed import  of jute following sanctions by western countries, they said.  The instability in Syria and Egypt have also contributed to decline in export  of jute and jute goods, they said adding export to Pakistan has also  suffered.  
India imported around 40,000 bales during the first seven months of the current fiscal (2013-14) as against 8.9 lakh bales of raw jute during 2012-2013), EPB source said.
When contacted Chowdhury Sabbir Yusuf, Chairman, Bangladesh Jute Spinners Association told The New Nation on Sunday  that export market for jute and jute goods has been reducing also  for European economic recession and  prevailing  political  situation in Middle East. The export market of jute and jute goods  to countries like Iran and  Syria  has become uncertain, he said. Iran, he said used to import  about 70,000 tons of jute and jute goods annually while Syria's  import  was about   40,000 tons of jute and jute goods. But export to those countries has become uncertain, he said.  Expressing disappointment over the situation, Sabbir Yusuf said the situation is not likely  to improve in near future.
China, Vietnam and European countries- the other traditional  importers of jute and jute goods have also imported reduced quantity of jute and jute goods due to recent political unrest in the country, another source  said adding some of the millers have cut down the price of their products to retain  their markets.
The importers have been offering lower prices of jute and jute  goods following  decline in demand, another source said adding  sometimes the importers are offering prices below the production cost.
One ton of jute yarn is selling at around US $ 1000 as against $1100-1150 in the previous financial year, the source said.  Some exporters however, blamed absence of modern machinery and lack of research and development activities on jute goods for actual growth of the sector.  
Meanwhile, demand has been raised by jute producers ands exporters  to increase local consumption  of jute through implementation of Jute Packaging Act.
" If the local demand increases, a  huge amount of foreign  exchange would be saved  which is spent for import of plastic  and synthetic goods," another source said adding  India started mandatory use of jute since  1987. Though Bangladesh enacted the mandatory jute  packaging act in 2010, the law is yet to be implemented.
If the government  does not take urgent  steps to save the farmers, he said, the production will suffer in the coming days. The exporters  urged the concerned authorities also to explore new markets for jute and jute goods to save the sector from ruination.
Presidential elections are scheduled for 25 May.

Add Rate

News Archive

Inside The New Nation

Editorial »

Maldives' people reject authoritarian rule and voted for democracy

MALDIVES strongman President Yameen Abdul Gayoom conceded that he lost Sunday's election to his challenger Ibrahim Mohamed Solih, in a speech broadcast live on television Monday, according to the international media. Mr Yameen congratulated Solih and said, "I know I have to step down now."  The Election Commission said voter ...

Cricket »

'Rashid is best but not unplayable' says Mahmudullah

Mahmudullah Riyad sorted out a vigorous 74 against Afghanistan rescuing Bangladesh from a plausible downfall.Mahmudullah Riyad and Imrul Kayes stood tall in the middle when the team was languishing losing all five in the top order in a score of 87 on the board. The duo added 128 runs in ...

International »

Thousands attend funeral for Iran attack dead

AFP :Tens of thousands of mourners attended a funeral on Monday in the southwestern Iranian city of Ahvaz for soldiers and civilians killed in an attack on a military parade.Four militants attacked the Saturday parade marking the start of the 1980-1988 Iran-Iraq war, spraying the crowd with gunfire and killing ...

International »

Hong Kong pro-independence party formally outlawed in first such move since handover

Reuters, Hong Kong  :Hong Kong authorities formally banned on Monday a group promoting independence from China - the first outlawing of a political organization since Britain handed its former colony back to Chinese rule in 1997.The city's Secretary for Security John Lee announced the ban on the Hong Kong National ...

City »

Prime Minister Sheikh Hasina addressing a reception accorded to her by the expatriate Bangladeshis at a hotel in New York on Sunday.

Entertainment »

Mehazabien, Apurba in Puja special play

Sheikh Arif Bulbon :Popular pair of the small screen of present time Mehazabien Chowdhury and Ziaul Faruk Apurba worked together in a special play of Durga Puja for the first time. Title of the play is Priyo Tumi. Directed by Mahmudur Rahman Himi story of the play is written by ...

Editorial »

Attack on Iran`s elite guards

IRANIAN Supreme Leader Ayatollah Ali Khamenei accused US-backed Gulf Arab states of carrying out a shooting attack on a military parade that killed 25 people, almost half of them members of the country's elite Revolutionary Guards. Khamenei ordered security forces to bring to justice those responsible for one of the ...

Sports »

Bertens defeats Tomljanovic to secure Korea Open win

AFP, Seoul :Kiki Bertens defeated Australia's Ajla Tomljanovic in the Korea Open final on Sunday, securing her third WTA Tour singles title of the season to continue her career-best year.The second-seeded Bertens came back from break down in the deciding set to defeat the Australian in two hours and 22 ...

International »

World leaders gather at UN under threat from unilateralism

AP, United Nations :With rising unilateralism challenging its very existence, the United Nations convenes its annual meeting of world leaders Monday and will try once more to tackle problems together as a community of nations, addressing threats ranging from Mideast conflicts to the effects of global warming - and also ...

City »

National Professor Anisuzzaman seen among others at the cover unveiling ceremony of a book marking the 80th birthday of eminent writer Hasan Azizul Haq organised by Bangladesh Culture at Jatiya Press Club yesterday.

Entertainment »

Nazira Mou to debut in film with Indraneil

Sheikh Arif Bulbon :Viewers’ choice popular actress Nazira Mou has been acting in small screen for many days. She got many offers for acting in big screen. But she did not agree to act due to disliking stories and her roles in those works. When Mou got the proposal from ...

Editorial »

CPJ reveals weakness of journalists by appealing to President

THE Committee to Protect Journalists (CPJ) in a letter to the Bangladesh President has expressed deep concern about the Digital Security Act 2018, which was passed by the Parliament on September 18, and urged him to return it to Parliament for a review afresh.   If this legislation was allowed to ...

International »

Modi faces calls for resignation over French jet deal

Reuters, New delhi :Indian Prime Minister Narendra Modi faced calls for his resignation over allegations of corruption in a military jet deal with France after former French president Francois Hollande was quoted as saying New Delhi had influenced the choice of a local partner.Indian political parties have been gunning for ...

International »

US official in Russia probe suggested taping Trump: Report

Reuters, Washington: The US official who oversees the federal investigation into Russia's role in the 2016 U.S. election suggested secretly recording President Donald Trump last year and recruiting Cabinet members to invoke a constitutional amendment to remove him from the White House, the New York Times reported on Friday.Deputy Attorney ...

Football »

Tabarez renews with Uruguay until Qatar World Cup

AFP, Montevideo :Despite failing health the veteran coach Oscar Tabarez has signed a four-year contract extension to remain at the Uruguay helm until the end of the 2022 World Cup in Qatar, the South American country's football federation said on Friday.Tabarez, who suffers from a nerve disorder that forces him ...

Items that you save may be read at any time on your computer, iPad, iPhone or Android devices.
Are you new to our website? Do you have already an account at our website?
Create An Account Log in here
Email this news to a friend or like someone
Write a comment to this news