The government is set to launch a special drive against illegal stockpiles of raw jute to ensure a smooth supply in the domestic market and enable mills to make jute goods for export. The declaration came amid allegations from millers that traders were stockpiling raw jute in a bid to artificially increase prices, causing a decline in the shipment of jute goods. If the ministry fails to take strict action, then we have to face a tough situation as foreign buyers are shifting their attention away from our jute products to alternative items after failing to buy the goods at their stipulated prices.
In the face of rising raw jute prices, millers and spinners collectively decided that they would not buy the natural fibre for more than Tk 3,000 per maund from January 20. According to millers and traders, each maund (about 37 kilograms) of raw jute is selling at Tk 3400 to Tk 3600. Earnings from jute and jute goods declined 12 per cent year-on-year to $590 million in the July-December period of 2021-22. The most mishandling of hoarders’ activities have been going on for the last two years due to the negligence of the local and central administrations.
The government will take stern action against dishonest hoarders in order to maintain the supply trend of exporting jute and jute goods from Bangladesh. The Department of Jute has been directed to take the necessary measures, such as prohibiting unlicensed dishonest traders from buying and selling raw materials and prohibiting the sale and purchase of wet jute. As such, raw jute dealers or storekeepers will not be able to stock more than 1,000 maunds of raw jute for more than one month. The effective measures have been taken to ensure proper seed supply for jute cultivation in the current season. The first phase of the programme will begin this year and if everything goes as planned, the country will be self-sufficient in improved jute seed production by 2025, with no future seed imports.
