Good yield of jute

We are heartened by the news of a good yield of jute and also of the farmers receiving remunerative prices this year. Once the financial barometer of our economy, the golden fibre has witnessed a topsy-turvy ride in the last couple of decades. Of late, the demand for jute and related products have witnessed a substantial increase in the world market, thanks primarily to the growing concerns over climate change. Yet, we have not been able to maximise the benefits from the current global trend of demand for eco-friendly products.

While the export of raw jute to the neighbouring countries have risen sharply, local spinners complain of a shrinking supply and are warning of closure of local jute mills if the current exporting trend persists in the long run. Furthermore, the number of government-run purchase centres is pitiful, opening up avenues of export through illegal channels. Also, the failure to diversify the product lines is evident in the rise of jute-related exports of India and China, both of which import from Bangladesh to manufacture sacks, yarns and bags.    

There is no denying that, to find a strong footing, the jute sector needs policy and logistical support. In this regard, we urge the government to firmly implement jute packaging law 2010, which, we believe, will help the jute-dependent products in the local market. The hurdles before the key areas of productivity have to be immediately removed. In the volatile world of international trade, there is no alternative to product development and marketing, which, we believe, is heavily neglected.