Jute export gains momentum in Bangladesh

http://www.bssnews.net/newsDetails.php?cat=0&id=201700&date=2011-09-22

Jute export gains momentum in Bangladesh

DHAKA, Sept 22 (BSS) – Since the use of natural fibre increased worldwide against the backdrop of environmental hazards, the Bangladesh’s export of jute and jute products have witnessed a significant rise during the last couple of years.

Experts said today that government’s favourable policy to increase production and use of jute products, development of new varieties, people’s awareness against environmental hazards and demand of natural fibres abroad played a significant role in boosting the export of the country’s jute goods.

Statistic showed that Bangladesh has earned 111.50 crore US Dollars in the last (2010-11) fiscal from jute sector which was 41.49 percent higher than the previous (2009-2010) fiscal.

According to the latest statistics of Export Promotion Bureau (EPB), Bangladesh has exported 21 lakh bale raw jute worth of $ 35.72 crore and jute fibre of $ 50 crore in the last fiscal year. During the same period , Jute bags worth $ 20.67 crore and others jute product of $5 (five) crore were exported.

Bangladesh is exporting its jute products to India, China, Turkey, Iran, Syria, Uzbekistan and many European countries. Besides, the government is looking for more potential markets in African countries.

Apart from foreign markets, the demand of jute and jute products has also increased in the local markets as well. Statistic showed that jute goods of Taka 274 crore have been sold in the local markets in the last fiscal. The sale has increased 176 percent in a year.

Talking to BSS today, EPB Vice-Chairman Jalal Ahmed said the demand of jute and jute goods have been increasing gradually due to various factors including environmental hazards, affordable price of jute goods and people’s awareness against the use of synthetic materials.

He said the present government is searching for new markets across the world especially in Africa considering its increased demand globally. “There is immense prosperity of jute goods in the present world.and we are taking preparation to take the opportunities,” he added.

Director General of the Department of Jute Md. Nasiruddin said considering the present demand of jute, farmers are being provided subsidy and modern variety of seeds to increase production of jute once called as “Golden fibre of Bangladesh”.

In this context, he said Bangladesh Bank has already reimbursed fund involving Taka 500 crore to revamp the country’s once dying jute sector.

According to available data, the contribution of jute and jute products to the national economy is still significant. In the 1950s and 60s, almost 80 percent of the world’s jute was produced in Bangladesh.

Due to several setbacks and the introduction of, often cheaper, substitutes the market declined and jute started to lose its dominant position. In 2000, five percent of all exports from Bangladesh consisted of jute. This figure decreased to 3 percent in 2004, while the world market for jute products is slowly increasing again.

The present government led by Prime Minister Sheikh Hasina after assuming office has taken various pragmatic measurers to increase the country’s jute production including expediting research on jute and reopening a number of jute mills which were closed down during the past regime.

However, decoding of genome sequencing of jute by a group of Bangladeshi scientists has opened up a new vista in the development of golden fibre.

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