BD MoC takes up the initiative to increase export markets for jute and jute goods

The Bangladeshi ministry of commerce (MoC) takes the initiative of not only increasing exports of jute and jute products to the international market but to expand its export markets. As its export earnings from jute and jute goods has dropped by more than 30 per cent during the period July-January of the current fiscal year. It earned only US$ 592 million against US$ 646 million during the same period in the last FY.

In this connection, the MoC has sent letters to some 19 commercial wings of its missions abroad asking to take necessary steps for creating new markets and increasing export of jute goods.

The Bangladesh Jute Mills Corporation (BJMC) manufacturing different types of packaging fabrics, hessian, sacking, carpet backing, mats and bags were exported to different countries . With other alternative replacing jute, the use of jute goods across the world has been dropping significantly.

Due to wilting demand in the international markets, exports have dropped. Jute goods worth about Tk 7.60 billion manufactured by different jute mills is at risk as it is leading to stockpiling and storing such goods is getting very difficult at the mills.

Moreover, there are 80,000 employees working in 27 mills under the BJMC, It is getting impossible for the BJMC to meet the expenditure on account of salaries which is Tk 750 million a month due to the fall in exports.

Currently, its jute products are exported to limited markets. There is a urgent need to explore new markets for exporting jute and jute products.