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Bangladesh jute exports grow 6.54% in FY’13

July 12, 2013 (Bangladesh)

Bangladesh’s export earnings from jute and jute goods in the fiscal year 2012-2013 showed an increase of 6.54 percent over the previous year, according to the Export Promotion Bureau (EPB) data.
 
Bangladesh’s earnings from the jute sector were US$ 1.01 billion during July 1, 2012 to June 30, 2013 period. The data indicated that the export of jute bags and sacks increased by 28.16 percent year-on-year to fetch US$ 237.42 million in foreign exchange for Bangladesh.
 
EPB indicated that the exports of jute yarn and twine showed an increase of 8.24 percent compared to the previous fiscal year, and earnings in the sector were recorded at US$ 506.74 million. However, the exports in the raw jute sector fell by 13.65 percent to US$ 229.92 million from US$ 266.28 million recorded in the previous fiscal.
 
The earnings from jute and jute good exports registered an increase due to a rise in demand of natural fibre-made products across the world, as a result of the ban on plastic bags implemented in many countries, according to industry analysts.
 
Some new jute bag manufacturing units became operational during the last couple of years, which is also a reason for rise in exports of jute bags.
 
In 2012-13, the state-owned Bangladesh Jute Mills Corporation (BJMC), which has a total of 23 jute mills and is one of the largest manufacturers in the jute sector, exported Tk 10.58 billion worth of jute items, which was a little higher than its previous year’s exports of Tk 9.43 billion.
 
In the current season, Bangladesh is expecting bumper jute production owing to favorable climatic conditions and adoption of latest farming technologies by jute growers, according to the Department of Agricultural Extension (DAE).
 

Fibre2fashion News Desk - India
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