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Jute yarn exports down due to West Asian & African unrest
12
May '11
Owing to continued unrest in the North African countries and Middle East, jute spinners in Bangladesh are experiencing a fall in demand for yarn.

Around 66 percent of Bangladesh's jute yarn exports are towards key markets like North African countries, Turkey and Middle East, where jute yarn is used as an input for carpet manufacturing.

However, due to the ongoing war and political unrest, people in these importing regions are not in a mood to buy un-essential items like carpets.

Due to worsening of the ongoing crisis in oil-rich Middle East and some North African countries and the accompanying drop in demand, jute yarn prices have come down significantly over the last two-three months.

All these factors have distressed the Bangladeshi exporters trading with these troubled countries as they are witnessing a constant fall in demand over last two months.

There has been a sharp fall in export prices of jute yarn, as the prices which hovered around $1,500-$1,700 per ton during August-September, 2010 have now come down to $1,100-$1,150 per ton.

In spite of this, export earnings from jute yarn and twine with a rise of 43 percent went up to $381 million during July 2010 to March 2011.

However, the exporters hold a view that, the effect of this drop in demand and reduction in prices would start becoming apparent on export earnings in later part of the current fiscal year.

Jute yarn contributes more than 60 percent of the industry's total export earnings. But owing to the crisis in the Middle East, carpet factories in Turkey have slashed its production, which has made the Bangladeshi exporters apprehensive regarding the future.

Besides, Bangladesh also exports jute yarn and jute products to other countries like Saudi Arabia, Jordan, Syria, Belgium and Egypt.

Bangladesh supplies around 350,000-380,000 tons of the world's annual demand of around 450,000 tons of jute yarn. The country during last 2009-10 fiscal exported 380,000 tons of jute yarn.

Fibre2fashion News Desk - India

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