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Govt formulates strategy to tackle raw jute crisis
28
Nov '15
The Central Government has decided on a multi-pronged strategy to evolve a suitable strategy for stabilizing the raw jute market and for tackling raw jute price rise, according to an official statement.

The Government's decision comes in the wake of a severe raw jute crisis that has left jute mills in West Bengal reeling.

At a meeting chaired by Union Textiles Minister Santosh Gangwar, the Government decided to launch de-hoarding operations, request Bangladesh to lift an export ban on raw jute and promote jute cultivation.

The Jute Commissioner has been requested to take appropriate measures for notifying stock limits for raw jute for balers, traders and millers and to undertake de-hoarding measures with the help of State Governments, so that jute produced during the season becomes available for jute mills for continuing their production, as was last done in 2005.

The Department of Commerce and Ministry of External Affairs have been requested to take up the matter with their counterparts in Bangladesh for lifting the ban on export of raw jute by Dhaka.

The meeting also decided that appropriate long-term measures shall be taken by the State Governments and the Central Government's Agriculture Department for encouraging jute cultivation and checking its declining trend. (SH)

Fibre2Fashion News Desk – India

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