Low price of jute disheartens Rangpur farmers despite bumper yield

RANGPUR, Sept 16: A good yield of jute could not bring smile to the farmers of Rangpur district on account of its low market prices.
The farmers of the district cultivated jute with the hope to earn good profit this season but their hopes of having fair price got shattered. Presently jute is selling at much lower rate almost below the production cost discouraging the growers to cultivate it in next season.
According to Department of Agriculture sources jute was cultivated on 12,650 hectares of land this season in the district and farmers became satisfied with the yield. But scepticism about even getting return of the production cost has seized farmers in the region as price of their produce in the local market has been found to be much lower than expectations.
Moreover, most of the poor and marginal farmers had borrowed money at a high interest rate from the money lenders and NGOs to cultivate the golden fibre. Some of them harvested their produce at the earliest possible time to repay loan. But the low market price of jute is upsetting them.
Growers are counting huge losses as jute is now being sold at Tk 1200 to Tk 1400 per maund depending on quality.   Many farmers are being compelled to return home from markets due to lack of buyers.   
Some poor growers also alleged that they are compelled to sell their produce to wholesellers on credit under pressure though they do not know when they will get the payment.    
Expressing dissatisfaction over the circumstances a number of jute growers of the district told The Financial Express that they were eager and made dynamic effort to enhance the output of the crop this season but low price of the crop made it difficult for them to cover even the production cost. they said they might not opt for jute cultivation next season.    
Nazrul Miah (55), a jute grower at Char Nazirdaho village under Kawnia upazila in the district expressed his frustration and said that he cultivated jute on 4 bighas of land this year spending additional money for irrigation owing to prolonged drought which prevailed in the region during peak cultivating season. But now he has to incur huge loss because of declining price of the crop.
Talking to The Financial Express a number of jute growers expressed their disgruntlement over the low price of jute saying that if the situation continues they will not be able to recover even production cost. They urged the government to take adequate measures so that they can get fair price of their produce.