In an effort to help the domestic jute dealers to sell their piled up stocks and thereby generate more foreign exchange, the Bangladeshi government has temporarily waived the ban on raw jute exports.
The Ministry of Textiles and Jute on March 9 issued a circular to this effect in the wake of soaring demand for commodity in the world markets.
The circular read that, in view of the rise in demand for Bangla Tosha Rejection (BTR) in the world markets, the export ban on raw jute has been temporarily withdrawn to bring in more foreign exchange to the country's economy.
In order to ensure sufficient availability of the natural fibre for the domestic jute mills, the Bangladeshi government had imposed a ban on raw jute exports from the country, since February 11, 2010.
Further, though the government's present move is aimed at helping the traders to clear their unsold stocks of raw jute, some of the industry experts have raised apprehensions that, some deceitful traders may export good quality jute in the veil of BTR export.
Fibre2fashion News Desk - India
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