Jute goods export declines

Export of jute goods is on the decline in the ongoing financial year (FY'15) as the sector is going through a tough time due to the volatile global market.
Jute spinners exported 0.315 million tonnes of products during the period of July-February of the ongoing financial year which was 0.329 million tonnes in the corresponding period of last year.
This was disclosed Tuesday by outgoing chairman of Bangladesh Jute Spinners Association (BJSA) Md Shahjahan at its AGM.
A twelve-member committee of BJSA was formed at the 36th annual general meeting (AGM) of the association held at its office in the city.
Ahmed Hossain has been elected the chairman of the BJSA for the 2015-2017 period. Md Abul Hossain has been re-elected the vice-chairman of the trade body.
Ahmed is managing director (MD) of Nawab Abdul Malek Jute Mills while Abul Hossain is the MD of AH Jute Spinners and Belting.
Jute mills under BJSA exported 0.559 million tonnes products worth Tk34.74 billion in the last financial year (FY'14), attaining nearly 8 per cent growth, press release said.
Mr Shahjahan said that the inner competition (price cutting) has caused the decline in price of the product in the global market.
The jute spinners urged the government for immediate release of pending cash incentives worth Tk6.0 billion, according to a press release.
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