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Prospects of jute sector brighten
Dec '09
The jute export sector is witnessing good times, once again. Shipments of raw jute and jute exports were able to record a substantial growth in the period July-September 2009, despite the clouds of economic slowdown, still not displaying signs of fully withering away.

Exports of raw jute in the first quarter of the fiscal 2009-10, surged by an astounding 28 percent, while shipments of jute products were able to register modest gains of 5.8 percent, when corresponded with July-September period of the previous fiscal.

These developments have augured well for the jute farmers, who have received remunerative prices for their jute produce in the current season as prices have moved up substantially, due to the spike in demand from domestic as well as overseas markets.

But this has also created a dilemma for the jute industrial sector, which has to fork out higher prices for raw jute to a shortage created, due to the excessive hike of growth rate in exports of the commodity from Bangladesh.

Experts are of the opinion that if prices and exports continue to climb, these enterprises may have to down their shutters and have advised the government to control shipments of raw jute and promote exports of jute products as it will help in value-addition as well as bring in an increased amount of foreign exchange into the country.

Fibre2fashion News Desk - India

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