Jute exports on the mend
Bangladesh s jute industry is passing exceptional times.
With raw jute trade at a historic high amid scarcity resulting from low yield, export earnings are surging.
However, millers said much of the growth in export receipts of jute yarn, twine, sacks and bags are the result of a price increase.
The volume of shipments increased too but the extent of growth was not as much as the spike in value growth.
Data from the Export Promotion Bureau (EPB) showed that export earnings from the main exportable yarn and twine soared 42 per cent year-on-year to $449 million in the July-December period of fiscal 2020-21.
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Moinul Hoque Chowdhury,
bdnews24.com
Published: 31 Dec 2020 08:55 PM BdST
Updated: 31 Dec 2020 09:11 PM BdST
There is no doubt that 2020 will go down in history as the year of a deadly pandemic when the fear of death accompanied the people at every step. In Bangladesh, many saw the pandemic as an opportunity to enrich themselves as various scams related to the outbreak were uncovered. );
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Meanwhile, issues like the scandal involving Shamima Noor Papia, an expelled leader of Jubo Mohila League who allegedly ran escort services at the Westin hotel in Dhaka, the COVID testing scam which brought dubious businessman Mohammad Shahed under the spotlight, along with the killing of retired major Sinha Md Rashed Khan by the police, rank among the biggest talking points of the year.
The textiles and jute ministry issued a circular to this effect on December 6.
In January 2014, the government had made it mandatory to source half of the jute bags and sacks for the packaging of paddy, rice, wheat and fertiliser from the jute mills run by the BJMC and the rest from private sources. But the government shut all of the 25 jute mills of the BJMC in July to get rid of continuous losses. The corporation used to supply half of the jute bags and sacks used by the food department and the Bangladesh Chemical Industries Corporation.
The latest decision came at a meeting at the textiles and jute ministry on December 2. Lokman Hossain Miah, textiles and jute secretary, presided over the meeting.
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