Jute exports fetch Tk 18.60b in July-Jan
FE Report | Wednesday, 16 March 2011
FE Report
Bangladesh fetched Tk 18.60 billion by exporting 233,333 tonnes of jute products during the first eight months (July 2010 - February 2011) of this fiscal. The amount is 9.5 per cent higher than that of the corresponding period of the previous fiscal. During that period the country earned Tk 16.99 billion, from 253,570 tonnes of jute products. "The income from jute products has increased due to price hike in the international market. However, export of jute yarn declined by eight per cent in the same period," said Ahmed Hossain, the outgoing president of Bangladesh Jute Spinners Association (BJSA). He told the FE: "Bangladesh exports more than 80 per cent of the 4,20,000 tonnes of total demand for jute yarn across the globe, while India exports less than 20 per cent." Explaining the reasons behind the reduction of jute yarn export, Mr Ahmed said jute yarn is used for carpet manufacturing, and the demand of carpet in the international market fell last year. According to the statistics of BJSA, the country earned Tk 50.96 billion by exporting 5,98,000 tonnes of jute products and raw jute in fiscal 2009-10. "We hope the production of jute would be better within the next few years, as its genome sequence has been decoded. The better production will take the sector to its golden age again," he said. Ahmed mentioned that the local spinning mills are producing about 500,000 tonnes of jute yarn each year despite having the total production capacity of 700,000 tonnes. He expressed the opinion that the gap between production capacity and total production would turn the industries into sick industries. The outgoing president of BJSA also urged the government to take necessary steps immediately to save the sector. The 32nd annual meeting of BJSA, held Tuesday, was told that there were 187 jute mills in the country. Of them, 90 mills are members of Bangladesh Jute Mills Association (BJMA), 70 mills are members of BJSA, and 27 mills are under Bangladesh Jute Mills Corporation (BJMC). In the FY 2009-10, the BJSA affiliated mills exported 380,375 tonnes of jute yarn, and earned about Tk 25.48 billion. Besides, the BJMC affiliated mills exported 1,04,000 tonnes of jute products, except jute yarn, and earned about Tk 7.46 billion. The BJMA affiliated jute mills exported 1,13,000 tonnes of jute products, worth about Tk 11.30 billion.
Bangladesh fetched Tk 18.60 billion by exporting 233,333 tonnes of jute products during the first eight months (July 2010 - February 2011) of this fiscal. The amount is 9.5 per cent higher than that of the corresponding period of the previous fiscal. During that period the country earned Tk 16.99 billion, from 253,570 tonnes of jute products. "The income from jute products has increased due to price hike in the international market. However, export of jute yarn declined by eight per cent in the same period," said Ahmed Hossain, the outgoing president of Bangladesh Jute Spinners Association (BJSA). He told the FE: "Bangladesh exports more than 80 per cent of the 4,20,000 tonnes of total demand for jute yarn across the globe, while India exports less than 20 per cent." Explaining the reasons behind the reduction of jute yarn export, Mr Ahmed said jute yarn is used for carpet manufacturing, and the demand of carpet in the international market fell last year. According to the statistics of BJSA, the country earned Tk 50.96 billion by exporting 5,98,000 tonnes of jute products and raw jute in fiscal 2009-10. "We hope the production of jute would be better within the next few years, as its genome sequence has been decoded. The better production will take the sector to its golden age again," he said. Ahmed mentioned that the local spinning mills are producing about 500,000 tonnes of jute yarn each year despite having the total production capacity of 700,000 tonnes. He expressed the opinion that the gap between production capacity and total production would turn the industries into sick industries. The outgoing president of BJSA also urged the government to take necessary steps immediately to save the sector. The 32nd annual meeting of BJSA, held Tuesday, was told that there were 187 jute mills in the country. Of them, 90 mills are members of Bangladesh Jute Mills Association (BJMA), 70 mills are members of BJSA, and 27 mills are under Bangladesh Jute Mills Corporation (BJMC). In the FY 2009-10, the BJSA affiliated mills exported 380,375 tonnes of jute yarn, and earned about Tk 25.48 billion. Besides, the BJMC affiliated mills exported 1,04,000 tonnes of jute products, except jute yarn, and earned about Tk 7.46 billion. The BJMA affiliated jute mills exported 1,13,000 tonnes of jute products, worth about Tk 11.30 billion.