Jute prices go up as new campaign drives demand

Says jute adviser

FE Team | Published: October 27, 2024 22:16:58

A new campaign promoting jute bags in the country has led to a marked increase in jute prices, according to Jute Adviser Brig Gen (retd) Dr M Sakhawat Hossain.
Speaking at the grand finale of the 8th season of the Textile Talent Hunt, organised by Textile Today at the Regency Hotel in Dhaka on Saturday, Dr Hossain highlighted the campaign's role in boosting local jute production and its global visibility, reports UNB.
"Significant progress has been made in the production of jute-based fabrics within the country," Dr Hossain said.
He mentioned that Bangladesh embassies abroad are now establishing designated exhibition spaces for jute products, aiming to enhance the international presence of Bangladeshi jute goods.
The event, attended by notable figures in the textile industry, showcased the presentation of the Textile Innovation Award 2024, which honoured distinguished companies across four categories.
Award recipients included Masco Group for Processing (Garments), Urmi Group for Product Development, Shasha Denims for Marketing and Market Development, and Coats Bangladesh for HR/Organisational Development.
Dr Hossain also emphasised the crucial role of language skills, particularly English, in improving employment opportunities within the sector, calling upon language institutions to help bridge this gap.
Presided over by Dr Ayub Nabi Khan, Pro Vice-Chancellor of BGMEA University of Fashion and Technology (BUFT), the event was attended by prominent industry leaders, including Mohammad Hatem, President of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), and Shawkat Aziz Russell, President of the Bangladesh Textile Mills Association (BTMA).
The awards presented at the ceremony underscored the importance of fostering innovation, creativity, sustainability, and continual improvement in the highly competitive global market.
Textile Today aims to position Bangladesh as a leader in textile and garment innovation, thereby establishing a forward-looking industry that contributes significantly to the national economy.
The jute industry remains a cornerstone of Bangladesh's economy, significantly contributing to production, exports and employment.
In 1998-99 fiscal year, jute goods accounted for 6.5 per cent of the country's foreign exchange earnings, reflecting the sector's enduring importance.
As the demand for sustainable products rises, the jute industry is poised to play an even more critical role in Bangladesh's economic field.