Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Sunday, February 17, 2019 10:46:32 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 »

Ensure safety for patients in the hospitals by any means

CITY'S Shaheed Suhrawardy Medical College Hospital has started operations after a messy situation caused by fire on Thursday evening. Director of the SSMCH said a total of 1,174 patients, including 72 children, were shifted to other government hospitals after the fire originated at the children's ward on the second floor ...

Sports »

Stunned Japan swimmers back stricken Olympic pin-up Ikee

AFP, Tokyo :Japanese swimmers have vowed to step up their efforts in support of Rikako Ikee, the poster girl for the 2020 Tokyo Olympics who has announced she is suffering from leukaemia.Earlier this week, the 18-year-old swim queen tweeted that she had cut short a training camp in Australia after ...

Football »

Capoue sends Watford into FA Cup quarter-finals at QPR's expense

Etienne Capoue's goal in first-half stoppage time was enough to give Watford a 1-0 win away to Queens Park Rangers (QPR) on Friday that saw the Hornets into the quarter-finals of the FA Cup.Both sides had opportunities in an even opening period that belied the fact that Watford are eighth ...

International »

Turkey has not revealed all about Khashoggi killing : Erdogan

AFP, Ankara :Turkey has not yet revealed all the information it has discovered about the killing of journalist Jamal Khashoggi in the Saudi consulate in Istanbul, President Recep Tayyip Erdogan said Friday."We haven't given all the elements we have at our disposal," the Turkish head of state said during an ...

Entertainment »

Fagun Haway' draws huge acclamation

Entertainment Desk :The premier show of 'Fagun Haway', a movie based on the 1952 Language Movement, draw a large number of film loving people at cinema halls.Actor turned director Tauquir Ahmed directed the movie which was released simultaneously at 52 cinema halls across the country.The story of the movie was ...

City »

The Namaz-e-Janaza of Poet Al Mahmud was held at the Jatiya Press Club on Saturday.

Editorial »

Save the Sunderbans to save the Royal Bengal Tigers

FOR the constant rise in sea levels and rapid climate change, the famous Royal Bengal Tigers of the Sunderbans could be disappeared within 50 years, especially from the Bangladesh part, according to a new study published recently in the journal Science of The Total Environment. A team of Bangladeshi and ...

City »

Members of RAB-2 nabbed one on Friday from Narayanganj for taking money from government officials from different areas in the country impersonating Anti-Corruption Commission official.


Cricket »

Feels like it`s a blessing to just be playing again: Steyn

Agency :Dale Steyn, the South African mainstay, continued to impress on his comeback trail, as he bowled at high pace and picked up four wickets over a long spell on Day 2 of the first Test of the two-match series versus Sri Lanka in Durban.The veteran fast bowler bowled at ...

Entertainment »

Shanta Jahan feels comfortable in hosting

Sheikh Arif Bulbon :Popular host of present time Shanta Jahan has to be engaged with hosting round the year in and outside the country in different stage shows and TV programmes. Besides hosting, she has more identities. She is also a model and TV actress. But she always feels comfortable ...

International »

Trump heavier, but in ‘very good health’: Doctor

AFP, Washington :President Donald Trump is a little heavier than last year and needs a higher dose of cholesterol medicine, but remains in "very good health," his official doctor said Thursday.The presidential physician, Sean Conley, said Trump, 72, passed his medical exam last week with flying colors."It is my determination ...

Cricket »

It was difficult to hit through the line of the ball in Napier: Guptill

Martin Guptill is happy to work his way through the travails of a slow Napier pitch and score an ODI hundred, which helped New Zealand beat Bangladesh by eight wickets in the opening game of the three-match series. The hosts had notably lost the ODI against India here couple of ...

International »

Taliban announces surprise talks with US in Pakistan

PTI, Islamabad :The Taliban said Wednesday that its negotiators would meet US envoys for talks this month in Islamabad, and also sit down with Pakistan Prime Minister Imran Khan to discuss Afghanistan.While Islamabad did not immediately confirm the talks, Washington said it had "noted" the announcement, which comes after weeks ...

International »

Judge finds Manafort lied to investigators in Russia probe

AP, Washington :Former Trump campaign chairman Paul Manafort intentionally lied to investigators and a federal grand jury in the special counsel's Russia probe, a judge ruled Wednesday.U.S. District Judge Amy Berman Jackson's decision was another loss for Manafort, a once-wealthy political consultant who rose to lead Donald Trump's 2016 campaign ...

Editorial »

Myanmar`s provocation: Dhaka should deal with the issue delicately

YET again Myanmar has shown Saint Martin's Island of Bangladesh as of its part in the official map. Protesting it, Dhaka on Thursday summoned Myanmar Chargé d'affaires and handed over a strongly worded protest note also expressing serious dissatisfaction over repeating such false claim, and demanded immediate corrective measures. Director ...

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