Steep rise in export of jute goods, raw jute
Wednesday, 7 July 2010
Mashiur Rahaman
Export of raw jute and jute goods continued to set new record, and played a vital role in earning the country's highest monthly export income in May of this year.
According to government statistics, the country's export of jute goods enjoyed a 79.85 per cent growth in July-May period of the outgoing fiscal year, earning a total US$441.11 million. It has gained a net US$64.02 million within one month, nearly 10 per cent monthly gain.
Besides, export of raw jute also enjoyed 36.42 per cent growth during the same period in FY 2009-10 against the corresponding period of the previous fiscal, earning US$182.43 million. Export of raw jute jumped by 17 per cent, adding US$13 million in one month.
Jointly, jute and jute goods have outpaced frozen foods and secured the position of the second largest export item from Bangladesh, statistics by the government-run Export Promotion Bureau (EPB) revealed.
"In total, export of raw jute and jute goods secured a 33 per cent growth in the first eleven months 2009-10 fiscal, and jointly earned US$623.54 million," the official elaborated.
Exporters and jute millers called the year's achievement 'tremendous', attributed it to timely product diversification, exploration of new markets as well as much needed policy support.
"Huge demand of jute bags, as a result of bumper food production in neighbouring India, was one of the main reasons behind the export escalation," Chairman of Bangladesh Jute Mills Association (BJMA) Nazmul Huq told the FE.
India is one of the largest importers of Bangladeshi raw jute and jute goods. And this was boosted further this year by the latest three-month strike in Indian jute mills, explained Mr Huq whose Janata Jute Mills is one of the pioneers in exporting diversified jute goods.
"Our exporters have also explored new markets in Latin American and African countries besides the traditional markets," he added.
Jute goods accounted for 68 per cent of the country's total jute exports in the outgoing fiscal year. Bangladesh exports raw jute mainly to India and jute goods to Turkey, Belgium, Iran, Spain, Syria, Uzbekistan, China, India and Pakistan.
Carpet yarns and jute sackings are the top selling products, now seeing huge demand in East Europe, Middle East, and central Asian countries, according to the industry experts.
This is really a golden year for the long-ignored jute industry, the BJMA chairman said adding "if it sustains, it would not be hard for the 'Golden Fibre' to revive its lost glory as the country's prime exporting commodity."
"With supportive government measures for the jute industry, we just need to maintain quality and diversification of our products, keeping exploration for new markets on," he said further.
Export of raw jute and jute goods continued to set new record, and played a vital role in earning the country's highest monthly export income in May of this year.
According to government statistics, the country's export of jute goods enjoyed a 79.85 per cent growth in July-May period of the outgoing fiscal year, earning a total US$441.11 million. It has gained a net US$64.02 million within one month, nearly 10 per cent monthly gain.
Besides, export of raw jute also enjoyed 36.42 per cent growth during the same period in FY 2009-10 against the corresponding period of the previous fiscal, earning US$182.43 million. Export of raw jute jumped by 17 per cent, adding US$13 million in one month.
Jointly, jute and jute goods have outpaced frozen foods and secured the position of the second largest export item from Bangladesh, statistics by the government-run Export Promotion Bureau (EPB) revealed.
"In total, export of raw jute and jute goods secured a 33 per cent growth in the first eleven months 2009-10 fiscal, and jointly earned US$623.54 million," the official elaborated.
Exporters and jute millers called the year's achievement 'tremendous', attributed it to timely product diversification, exploration of new markets as well as much needed policy support.
"Huge demand of jute bags, as a result of bumper food production in neighbouring India, was one of the main reasons behind the export escalation," Chairman of Bangladesh Jute Mills Association (BJMA) Nazmul Huq told the FE.
India is one of the largest importers of Bangladeshi raw jute and jute goods. And this was boosted further this year by the latest three-month strike in Indian jute mills, explained Mr Huq whose Janata Jute Mills is one of the pioneers in exporting diversified jute goods.
"Our exporters have also explored new markets in Latin American and African countries besides the traditional markets," he added.
Jute goods accounted for 68 per cent of the country's total jute exports in the outgoing fiscal year. Bangladesh exports raw jute mainly to India and jute goods to Turkey, Belgium, Iran, Spain, Syria, Uzbekistan, China, India and Pakistan.
Carpet yarns and jute sackings are the top selling products, now seeing huge demand in East Europe, Middle East, and central Asian countries, according to the industry experts.
This is really a golden year for the long-ignored jute industry, the BJMA chairman said adding "if it sustains, it would not be hard for the 'Golden Fibre' to revive its lost glory as the country's prime exporting commodity."
"With supportive government measures for the jute industry, we just need to maintain quality and diversification of our products, keeping exploration for new markets on," he said further.