Substantial rise in export of jute, jute goods
Monday, 16 May 2011
Arafat Ara
The export earning from jute and jute goods has increased in terms of value, but not in volume due to unrest in the Middle East and some North African countries, the major importers of the products, claimed the sector leaders Saturday. They said the raw jute price increased nearly 200 per cent per maund within two years in the country and as such the value of the export had increased. But the export volume has not increased in the recent months According to the Export Promotion Bureau data the export earning from jute and jute goods grew by 42.20 per cent during the first ten months of the current fiscal (2010-11). The data also showed that the jute products maintained their export track by exporting items worth $ 924.78 million in July-April of 2010-11 FY against $650.35 million in the corresponding period of last fiscal. Bangladesh Jute Spinners Association Secretary Shahedul Karim said due to unrest in the Middle East and some North African countries in the last two or three months, the export volume of the jute products declined significantly. The volume of jute yarn export dropped to 19000 tonnes in April from 28000 tonnes in March, Mr Karim added. He said Middle East, North African countries and Turkey import 66 per cent of local yarn for making carpet whereas Belgium, Saudi Arabia, Syria, Jordan and Egypt also buy jute goods from Bangladesh. But the demand for jute yarn has significantly fallen after the beginning of political unrest in those regions, he said He feared that both export value and volume might decline during the remaining period of current fiscal as they were not getting orders from the buyers. Apart from political unrest, price hike will be another factor in the near future for fall in export earning from the jute sector. He urged the Bangladesh Jute Mills Corporation (BJMC) to help keep the prices of jute and jute goods realistic. Bangladesh's overall export of jute and jute goods is nearly 0.50 million tonnes whereas only jute yarn export accounts for 0.32 to 0.35 million tonnes a year. The export earning from jute yarn and twine is worth $ 422.53 million in the current fiscal against $ 313.26 million in the last fiscal. Export of raw jute achieved a significant growth in July-April of current fiscal (2010-11FY) by making shipment worth $ 289.82million against the target of $ 205.12 million, a 69.20 per cent growth compared to the corresponding period of the last fiscal year (2009-10FY) when exports worth $171.29 million were made. Export of jute sacks and bags worth $ 171.54 million was made against the target of $ 142.96 million in July-April period of the current fiscal, which indicated a 45.66 per cent growth compared to the corresponding period of last fiscal. Belgium, the USA, the UK, Spain, Japan, China, India, Thailand and Sudan import jute sacks and jute bags whereas India, Pakistan, Brazil and Belgium import raw jute from Bangladesh.
The export earning from jute and jute goods has increased in terms of value, but not in volume due to unrest in the Middle East and some North African countries, the major importers of the products, claimed the sector leaders Saturday. They said the raw jute price increased nearly 200 per cent per maund within two years in the country and as such the value of the export had increased. But the export volume has not increased in the recent months According to the Export Promotion Bureau data the export earning from jute and jute goods grew by 42.20 per cent during the first ten months of the current fiscal (2010-11). The data also showed that the jute products maintained their export track by exporting items worth $ 924.78 million in July-April of 2010-11 FY against $650.35 million in the corresponding period of last fiscal. Bangladesh Jute Spinners Association Secretary Shahedul Karim said due to unrest in the Middle East and some North African countries in the last two or three months, the export volume of the jute products declined significantly. The volume of jute yarn export dropped to 19000 tonnes in April from 28000 tonnes in March, Mr Karim added. He said Middle East, North African countries and Turkey import 66 per cent of local yarn for making carpet whereas Belgium, Saudi Arabia, Syria, Jordan and Egypt also buy jute goods from Bangladesh. But the demand for jute yarn has significantly fallen after the beginning of political unrest in those regions, he said He feared that both export value and volume might decline during the remaining period of current fiscal as they were not getting orders from the buyers. Apart from political unrest, price hike will be another factor in the near future for fall in export earning from the jute sector. He urged the Bangladesh Jute Mills Corporation (BJMC) to help keep the prices of jute and jute goods realistic. Bangladesh's overall export of jute and jute goods is nearly 0.50 million tonnes whereas only jute yarn export accounts for 0.32 to 0.35 million tonnes a year. The export earning from jute yarn and twine is worth $ 422.53 million in the current fiscal against $ 313.26 million in the last fiscal. Export of raw jute achieved a significant growth in July-April of current fiscal (2010-11FY) by making shipment worth $ 289.82million against the target of $ 205.12 million, a 69.20 per cent growth compared to the corresponding period of the last fiscal year (2009-10FY) when exports worth $171.29 million were made. Export of jute sacks and bags worth $ 171.54 million was made against the target of $ 142.96 million in July-April period of the current fiscal, which indicated a 45.66 per cent growth compared to the corresponding period of last fiscal. Belgium, the USA, the UK, Spain, Japan, China, India, Thailand and Sudan import jute sacks and jute bags whereas India, Pakistan, Brazil and Belgium import raw jute from Bangladesh.