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BJMC jute mills post 15.5% export growth in 2011-12

13
Jul '12
Exports of the 27 state-run jute mills, operating under the Bangladesh Jute Mills Corporation (BJMC), for 2011-12 increased by 15.5 percent to Tk 10.84 billion, up from previous fiscal’s Tk 9.38 billion.
 
The rise in exports is mainly due to increased exports to the Asia-Pacific region.
 
Thailand stood to be the biggest importer of jute products, as following a bumper rice production, the country imported about 10,000 tons of jute sacks and bags from Bangladesh during 2011-12.
 
India also purchased jute sacks in bulk to pack its surplus production of rice and corn.
 
During the fiscal year, BJMC was successful in expanding its market in countries like Malaysia, Indonesia and Vietnam. 
 
BJMC expects its exports to grow further during the current fiscal if political conditions in the Middle East and some African countries improve.
 
Last fiscal, political turmoil in the Middle East and North African countries like Egypt, Tunisia, Iran, Libya, Syria, Bahrain and both parts of Sudan, adversely impacted exports of the BJMC mills to these countries.
 
Despite a rise in exports, domestic sales of jute and jute products witnessed a sharp decline during the year and plummeted from 2010-11’s 26,560 tons worth Tk 3 billion to 13,650 tons worth Tk 1.67 billion during 2011-12.
 
According to the Export promotion Bureau (EPB), Bangladesh’s overall jute and jute product exports for 2011-12 plummeted by 13.23 percent to US$ 967.38 million.
 

Fibre2fashion News Desk - India


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