Bangladesh jute exports gradually improving

According to Bangladesh’s “Daily Star” report on January 20, Bangladesh’s raw jute trade volume has increased and export revenue has increased. The increase in prices of jute yarn, thread, cloth and jute bags is the main reason for the increase in export earnings. According to data from the Bangladesh Export Promotion Agency, the export revenue of jute yarn and thread increased by 42% year-on-year from July to December 2020, reaching US$449 million; the export of jute cloth and jute bags increased by 56%, reaching US$92 million. In previous years, during the jute harvest season, the price of a quantitative unit of jute was Taka 1,100-2,400, but now the price of the same quantity of jute has risen to Taka 4,000-4,200. Some jute traders believe that the price increase is due to increased overseas demand, reduced jute supply, and some businesses in Bangladesh stocking up and reluctant to sell. They say that since 1993 to the present, the highest price of jute in a quantitative unit is only 3,000 taka. The price may rise this year. to Taka 5,000. Officials from the Bangladesh Agriculture Department said that the country’s jute planting area in Bangladesh last year was 85,000 hectares, and 171,700 tons of jute were harvested, a 30% reduction from previous years. A large amount of raw hemp was exported during last year’s harvest season, resulting in a current supply shortage in the market. </p