Kazi Zahidul Hasan :
Exports of jute and jute products have marked sharp fall in the recent times pushing the country’s potential jute sector into a fresh decline.
Bangladesh fetched $498.66 million from exports of jute and jute goods in the July-January period of 2018-19 fiscal year, recording a 24.66 per cent compared with the corresponding period of the previous fiscal.
The sale of jute and jute goods abroad reached $661.86 billion in the July-January period of the fiscal year 2017-18, according to the latest figure of Bangladesh Export Promotion Bureau (EBP) released on Wednesday.
“The sector faces a fresh decline amid falling export in key markets and declining productivity of the jute industries,” Bangladesh Jute Good Exporters Association (BJGEA) Vice-Chairman Lutfor Rahman told The New Nation yesterday
He said lack of technology up-gradation has affected productivity and competitiveness of the industry forcing buyers to move for alternative sourcing destinations and thus affected exports of jute and jute products from the country.
“The industry needs to adopt new technologies along with product diversification to improve productivity as well as developing new markets to prevent it from further decline,” suggested Lutfor Rahman.
He said the government should create a special fund for the jute sector so that the entrepreneurs can get access of low cost fund to modernize their factories.
The country’s jute sector supports about 40 lakh farmers and 1.5 lakh industry workers.
“Export of jute and jute goods continue to fall owing to depressed demands from major markets,” Sk Syed Ali, Chairman of Bangladesh Jute Association (BJA) told The New Nation yesterday.
He said the current Middle East crisis and eroding competitiveness of the industry are mainly responsible for the recent decline in the sales of jute and jute products in overseas market.
“The current downturn in export earnings has badly hit the whole jute sector–from growers to millers,” said Sk Syed Ali, adding, “Besides, most of the jute mills are running with low productivity which is also affecting growth of the sector.”
He said the productivity of local jute mills stands 66 per cent. Low productivity leads to high cost of production and finally affects edge of the industry in the global arena.
“We must introduce technology innovation in the industry for product diversification and sustain export growth of jute and jute goods,” said Sk Syed Ali.
He also observed that Bangladeshi jute and jute goods have huge demand in global market. But it fails to exploit the export potential due to lack of necessary steps for product diversification.
Bangladesh earned $1.02 billion from jute and jute goods exports in fiscal year 2017-18, while it fixed $1.08 billion export target from jute sector in this fiscal year (2018-19).
Jute and jute goods exports stood at $824 million in fiscal year 2013-14, $868.53 million in fiscal year 2014-15 fiscal and $919.58 million in fiscal year 2015-16 fiscal, according to Export Promotion Bureau (EPB).
Exports of jute and jute products have marked sharp fall in the recent times pushing the country’s potential jute sector into a fresh decline.
Bangladesh fetched $498.66 million from exports of jute and jute goods in the July-January period of 2018-19 fiscal year, recording a 24.66 per cent compared with the corresponding period of the previous fiscal.
The sale of jute and jute goods abroad reached $661.86 billion in the July-January period of the fiscal year 2017-18, according to the latest figure of Bangladesh Export Promotion Bureau (EBP) released on Wednesday.
“The sector faces a fresh decline amid falling export in key markets and declining productivity of the jute industries,” Bangladesh Jute Good Exporters Association (BJGEA) Vice-Chairman Lutfor Rahman told The New Nation yesterday
He said lack of technology up-gradation has affected productivity and competitiveness of the industry forcing buyers to move for alternative sourcing destinations and thus affected exports of jute and jute products from the country.
“The industry needs to adopt new technologies along with product diversification to improve productivity as well as developing new markets to prevent it from further decline,” suggested Lutfor Rahman.
He said the government should create a special fund for the jute sector so that the entrepreneurs can get access of low cost fund to modernize their factories.
The country’s jute sector supports about 40 lakh farmers and 1.5 lakh industry workers.
“Export of jute and jute goods continue to fall owing to depressed demands from major markets,” Sk Syed Ali, Chairman of Bangladesh Jute Association (BJA) told The New Nation yesterday.
He said the current Middle East crisis and eroding competitiveness of the industry are mainly responsible for the recent decline in the sales of jute and jute products in overseas market.
“The current downturn in export earnings has badly hit the whole jute sector–from growers to millers,” said Sk Syed Ali, adding, “Besides, most of the jute mills are running with low productivity which is also affecting growth of the sector.”
He said the productivity of local jute mills stands 66 per cent. Low productivity leads to high cost of production and finally affects edge of the industry in the global arena.
“We must introduce technology innovation in the industry for product diversification and sustain export growth of jute and jute goods,” said Sk Syed Ali.
He also observed that Bangladeshi jute and jute goods have huge demand in global market. But it fails to exploit the export potential due to lack of necessary steps for product diversification.
Bangladesh earned $1.02 billion from jute and jute goods exports in fiscal year 2017-18, while it fixed $1.08 billion export target from jute sector in this fiscal year (2018-19).
Jute and jute goods exports stood at $824 million in fiscal year 2013-14, $868.53 million in fiscal year 2014-15 fiscal and $919.58 million in fiscal year 2015-16 fiscal, according to Export Promotion Bureau (EPB).
