Home / Knowledge / News / Textiles / Govt relaxes ban on raw jute exports
Govt relaxes ban on raw jute exports
22
Jan '10
Regardless of the insufficiency of fibre in the local market the government has further relaxed the ban on export of raw jute. The government has permitted export of entire raw jute for which Letters of Credit (LCs) for shipment were opened prior to imposition of such restriction on last December 7.

The decision has eased export of entire bulk of raw jute, that is awaiting shipment at the port and also that was under export process till 7th December for which LCs were opened with 16 banks. But it is to be noted that no such relaxation has been provided for export of BTR (Bangla White Rejection) grade of raw jute.

The sector insiders expressed their concern over the issue of short supply of raw jute for local mills that will arise due to current relaxation of the export ban. It is estimated that such relaxation would lead to export of around 1.0 million bales of raw jute.

The ban was imposed by the government through a circular in accordance with Articles 4 and 13 of the Jute Ordinance 1962 on all grades of raw jute, including those which had been already dispatched to the ports and were awaiting shipment.

The ban was imposed due to excessively scant supply of jute fibre confronted by the local jute mills and unusual hike in the prices of raw jute which had already crossed TK 2000 per maund and was feared that it may rise further.

If such rally in price and scarcity of raw jute continues, apprehensions are even served that several domestic jute mills will have to be shut down.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 21st Feb 2017

Net profit at Indorama Ventures zooms 145% in 2016

Net profit at Thailand headquartered and Aloke Lohia led Indorama...

Information Technology | On 21st Feb 2017

ThreadSol launches IntelloBuy & IntelloCut in Vietnam

ThreadSol, the pioneer of enterprise material management for sewn...

Textiles | On 21st Feb 2017

GST to reduce documentation for logistics firms: CBRE

The Goods and Services Tax (GST) is likely to result in a reduction...

Interviews View All

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search