Bangladeshi state-owned jute mills faces sharp decline in export of jute goods

YarnsandFibers News Bureau, 2014-07-26 18:00:00 - Bangladesh

Related Keywords: demand, global market, importing countries, jute good exports, Khulna-Jessore industrial belt, Mandatory Jute Packaging Act 2010, political instability, state-owned jute mills

Bangladesh
Bangladeshi state-owned jute mills faces sharp decline in export of jute goods

The State-owned jute mills of Khulna-Jessore industrial belt in Bangladesh has witnessed sharp decline in jute goods exports due to lack of demand in global market, particularly because of political instability in major importing countries.

The Jute mills registered 38.65 percent decline in export of jute goods in the just concluded fiscal compared to its preceding fiscal.

According to Bangladesh Jute Mills Corporation (BJMC), about 31,647 tonnes of jute goods were exported from nine state-run jute mills of the region till the first week of June in the fiscal 2013-14, against the export of 81,881 tonnes in the fiscal 2012-13.

The nine jute mills are facing serious financial crisis as about 43,174 tonnes of their production remained unsold.

This has created a huge uncertainty about the purchase of raw jute by the mills as well as payment of wages of their workers and employees.
Jute goods worth Tk 400 crore remained stockpiled in the mills due to political instability in major jute importing countries, including Syria, Iraq, Sudan and Egypt, has led to the fall of export from the country. Moreover, the sale of jute goods in the local market remains low due to the increase in the use of synthetic bags, as per Regional coordinator of BJMC, Khandaker Jahangir Nuri.

The Industry jute feels that there is a strong need for implementation of the Mandatory Jute Packaging Act 2010 so that the demand of jute goods increases in the local market which will bring some relief to the industry.

While, BJMC is trying hard on the other end to explore new markets for jute and jute goods in different countries to deal with the situation.

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Related Keywords: demand, global market, importing countries, jute good exports, Khulna-Jessore industrial belt, Mandatory Jute Packaging Act 2010, political instability, state-owned jute mills

Bangladesh
Bangladeshi state-owned jute mills faces sharp decline in export of jute goods

The State-owned jute mills of Khulna-Jessore industrial belt in Bangladesh has witnessed sharp decline in jute goods exports due to lack of demand in global market, particularly because of political instability in major importing countries.

The Jute mills registered 38.65 percent decline in export of jute goods in the just concluded fiscal compared to its preceding fiscal.

According to Bangladesh Jute Mills Corporation (BJMC), about 31,647 tonnes of jute goods were exported from nine state-run jute mills of the region till the first week of June in the fiscal 2013-14, against the export of 81,881 tonnes in the fiscal 2012-13.

The nine jute mills are facing serious financial crisis as about 43,174 tonnes of their production remained unsold.

This has created a huge uncertainty about the purchase of raw jute by the mills as well as payment of wages of their workers and employees.
Jute goods worth Tk 400 crore remained stockpiled in the mills due to political instability in major jute importing countries, including Syria, Iraq, Sudan and Egypt, has led to the fall of export from the country. Moreover, the sale of jute goods in the local market remains low due to the increase in the use of synthetic bags, as per Regional coordinator of BJMC, Khandaker Jahangir Nuri.

The Industry jute feels that there is a strong need for implementation of the Mandatory Jute Packaging Act 2010 so that the demand of jute goods increases in the local market which will bring some relief to the industry.

While, BJMC is trying hard on the other end to explore new markets for jute and jute goods in different countries to deal with the situation.

0

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Related Keywords
demand global market importing countries jute good exports Khulna-Jessore industrial belt Mandatory Jute Packaging Act 2010 political instability state-owned jute mills

 
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