Condition eased for raw jute export

The government has lifted the condition for raw jute exporters of taking prior approval from the commerce ministry before the shipment, according to a notice issued by Export Promotion Bureau (EPB) today.

The commerce ministry, in the export policy 2021-2024, included the provision that raw jute exporter will have to get clearance before exporting the natural fibre—a move which was opposed by the jute traders earlier.

"From now on, they will not need any clearance," said Kumkum Sultana, director for policy and planning of EPB.

The relaxation comes as export earnings from raw jute and jute goods are falling.

Raw jute export dropped 12.5 per cent year-on-year to $117 million in the July-January period of 2022-23 fiscal year, according to EPB.

Farmers have been selling jute at prices between Tk 2,000 to Tk 2,900 a maund for the last one month while the price was hovering between Tk 2,500 and Tk 3,200 two months back.