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Rising prices & shortage of raw jute causes concern
18
Sep '10
A reported decline in jute production in Bangladesh has hit the industry in Nepal, since Nepal sources a major requirement of jute from Bangladesh.

There are around 80 industries in Nepal which depend on Bangladesh and India for raw jute supply. Also, nine factories located in eastern part of the country each year needs 80,000 metric tons of jute.

The country domestically produces just around 22,000 metric tons of jute which is barely enough to meet the four months' requirements of jute producers in the country.

Moreover, in the previous year, whereas, raw jute was traded at Rs. 30,000 per ton, this year the prices have surged to Rs. 50,000 per ton.

A surge in the prices of raw jute and a decline in imports of the same have aroused a crisis like situation for jute producers in Nepal, and this is because prices of finished jute items have not gone up in tandem with prices of raw jute.

Indian is the largest importer of readymade jute products from Nepal, but there has been no increase in the prices of these finished products in India, while the production cost of manufacturers in Nepal is continuously rising.

Fibre2fashion News Desk - India

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