Jute exporters in great trouble
Wednesday, 25 March 2009
Our Correspondent
KHULNA, Mar 24: About half a million bales of raw jute worth about Tk 5.8 billion have been lying in different warehouses in Daulatput area of the city due to a sudden fall in the export of the commodity. As a result, the exporters have fallen in great trouble.
Source said that the price of raw jute had been hiked in the world only few months ago. Therefore, the jute traders and exporters had been purchasing raw jute at high price from the local market. Later the prices of jute goods and raw jute have fallen from $ 80 to $100 per ton in the world market due to global economic downturn.
In this situation, about one hundred jute traders and exporters of Daulatpur area will face huge loss, it is learnt.
Md. Rezaul Karim Chairman of Bangladesh Jute Association said jute goods and raw jute had been exported to 27 countries including India, China, Pakistan and Thailand. But from the beginning of the current financial year jute export had declined.
Source said Tk 5.73 billion was earned by exporting 1.7 million bales of jute during the month from July-2007 to January-2008. Whereas only Tk 4.73 billion was earned by exporting 0.883 million bales of jute during the same period from July-2008 to January-2009. The export of jute has fallen by fifty percent within one year.
If the situation of the downtrend of the global economy is continued, the jute exporters and traders will face huge losses.
After a long gap, 55 thousand bales of jute have been exported to Pakistan on March 17 through Mongla Port.
Source said some 5.5 to 6.0 million bales of jute was produced in the country every year.
KHULNA, Mar 24: About half a million bales of raw jute worth about Tk 5.8 billion have been lying in different warehouses in Daulatput area of the city due to a sudden fall in the export of the commodity. As a result, the exporters have fallen in great trouble.
Source said that the price of raw jute had been hiked in the world only few months ago. Therefore, the jute traders and exporters had been purchasing raw jute at high price from the local market. Later the prices of jute goods and raw jute have fallen from $ 80 to $100 per ton in the world market due to global economic downturn.
In this situation, about one hundred jute traders and exporters of Daulatpur area will face huge loss, it is learnt.
Md. Rezaul Karim Chairman of Bangladesh Jute Association said jute goods and raw jute had been exported to 27 countries including India, China, Pakistan and Thailand. But from the beginning of the current financial year jute export had declined.
Source said Tk 5.73 billion was earned by exporting 1.7 million bales of jute during the month from July-2007 to January-2008. Whereas only Tk 4.73 billion was earned by exporting 0.883 million bales of jute during the same period from July-2008 to January-2009. The export of jute has fallen by fifty percent within one year.
If the situation of the downtrend of the global economy is continued, the jute exporters and traders will face huge losses.
After a long gap, 55 thousand bales of jute have been exported to Pakistan on March 17 through Mongla Port.
Source said some 5.5 to 6.0 million bales of jute was produced in the country every year.