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Jute regains lost glory

09
Apr '10
As it re-establishes itself as the second largest export product, after almost a decade, jute has succeeded in regaining its lost glory. Widespread demand of this natural fibre in the West and diversified products has lead to the resurgence of the once-dwindling industry.

In the current fiscal year, beginning from July 2009 till January 2010, the 'Golden Fibre' depicted brilliant performance, with raw jute exports growing by 38 percent to US $111.22 million, whereas exports of jute products rose by 49 percent and stood at $ 229.6 million.

Thus, the exports of raw jute and jute products jointly replaced frozen food exports to attain the position of being the country's second largest export product. With the increase in demand for shrimps in the US and Europe, frozen food had established itself at the second position since early 2000s.

During 1971, at the time of Bangladesh's independence, jute and jute products were country's leading export items. However, during the early 1990s as apparel exports surpassed jute, it had to play second-lead ever since.

There has never been such a tremendous rise in jute exports since decades and exceptional benefits for the first time have stretched to each and every segment of the industry. This even includes the farmers who have been able to fetch Tk 2,400 per maund (37.5 kilograms) of jute, said an expert.

As the natural fibre unexpectedly gained high attention from the developed and developing countries a new jute revolution was born, with the consolidated earnings for the year gearing up to go beyond $ 600 million.

India is the main importer of raw jute from Bangladesh and the latter's jute products are exported to Turkey, Belgium, Iran, Spain, Syria, Uzbekistan, China, India and Pakistan. Jute sacks are largely in demand in East Europe, Middle East, and central Asian countries and are the best selling items.

Fibre2Fashion News Desk - India


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