Economic reporter :
The country’s jute sector failed to achieve the export target in the first seven months (July to January) of the current fiscal 2015-16.
The government has set the export target of jute and jute products for $534.11 million during this period. In the seven months, the export earning from jute sector was $494.52 million. Country’s jute export declined by 7.41 per cent, according to the latest data of Export Promotion Bureau (EPB).
Experts said, export of raw jute has also experienced a decline in recent years. The country’s jute sector is currently undergoing a depression as the result of a gradual decrease in raw jute production, with farmers failing to meet their production costs because of a downhill demand in the domestic and international markets.
Over the last four years, the country’s raw jute production decreased by 10 lakh bales, according to the Department of Agriculture Extension (DAE). In 2013-14 fiscal, raw jute production at farmers’ level was 74.36 lakh bales while in 2010-11 it was 84.60 lakh bales.
Actually, the farmers are losing their interest to cultivate jute in recent years, as they have not been getting fair price of their production because of lessened demand in the market.
The jute mills of state owned-Bangladesh Jute Mills Corporation (BJMC) and private owners’ body Bangladesh Jute Spinners Association are the major consumers of raw jute in the country. But most of the mills did not procure any raw jute from the market in recent years, as they remained idle during the time.
Market insiders said, the downtrend was caused as the popularity of plastic and other synthetic-made products was outweighing the demand for jute-made products worldwide.
Foreign buyers including major players like China had stopped procuring raw jute and jute-made products from the local market in recent years.
BJMC sources also claimed that Middle Eastern countries like Syria, Iran, Egypt and Iraq, which were major buyers of jute products from Bangladesh, had stopped buying finished jute or jute products because of the political turmoil and instability in their respective countries.
The government-owned mills have been facing huge fund crunch as well as system loss in operating their daily activities.
A good number of countries including members of the European Union have introduced restrictions on plastic and other synthetic-made products. The government could seize this opportunity to create a market for jute products in the countries, which imposed restrictions on synthetic-made products.
The country’s jute sector failed to achieve the export target in the first seven months (July to January) of the current fiscal 2015-16.
The government has set the export target of jute and jute products for $534.11 million during this period. In the seven months, the export earning from jute sector was $494.52 million. Country’s jute export declined by 7.41 per cent, according to the latest data of Export Promotion Bureau (EPB).
Experts said, export of raw jute has also experienced a decline in recent years. The country’s jute sector is currently undergoing a depression as the result of a gradual decrease in raw jute production, with farmers failing to meet their production costs because of a downhill demand in the domestic and international markets.
Over the last four years, the country’s raw jute production decreased by 10 lakh bales, according to the Department of Agriculture Extension (DAE). In 2013-14 fiscal, raw jute production at farmers’ level was 74.36 lakh bales while in 2010-11 it was 84.60 lakh bales.
Actually, the farmers are losing their interest to cultivate jute in recent years, as they have not been getting fair price of their production because of lessened demand in the market.
The jute mills of state owned-Bangladesh Jute Mills Corporation (BJMC) and private owners’ body Bangladesh Jute Spinners Association are the major consumers of raw jute in the country. But most of the mills did not procure any raw jute from the market in recent years, as they remained idle during the time.
Market insiders said, the downtrend was caused as the popularity of plastic and other synthetic-made products was outweighing the demand for jute-made products worldwide.
Foreign buyers including major players like China had stopped procuring raw jute and jute-made products from the local market in recent years.
BJMC sources also claimed that Middle Eastern countries like Syria, Iran, Egypt and Iraq, which were major buyers of jute products from Bangladesh, had stopped buying finished jute or jute products because of the political turmoil and instability in their respective countries.
The government-owned mills have been facing huge fund crunch as well as system loss in operating their daily activities.
A good number of countries including members of the European Union have introduced restrictions on plastic and other synthetic-made products. The government could seize this opportunity to create a market for jute products in the countries, which imposed restrictions on synthetic-made products.
