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Govt allows partial exports of raw jute
04 Jan '10
1 min read
The government in a notification, allowed jute exporters to export about 168,000 bales of raw jute, “Letters of Credit (LC)” for which were opened before the ban on jute shipments came in to effect from December 7, 2009.
This decision has come as a huge relief to jute exporters, who had opened LCs even before the ban came in to effect and could cause them trouble. On the other hand, jute millers have opposed the decision saying this will help in further flare up of prices.
Bangladesh Jute Mills Association (BJMA), said the objective of the government ban was to bring down the prices of raw jute, and that goal is not likely to be met with the partial withdrawal of the ban.
This decision has come as a huge relief to jute exporters, who had opened LCs even before the ban came in to effect and could cause them trouble. On the other hand, jute millers have opposed the decision saying this will help in further flare up of prices.
Bangladesh Jute Mills Association (BJMA), said the objective of the government ban was to bring down the prices of raw jute, and that goal is not likely to be met with the partial withdrawal of the ban.
Fibre2fashion News Desk - India
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