Published:  12:37 AM, 12 January 2020

Jute goods exports post high growth

Jute goods exports post high growth

The export of jute and jute-made goods witnessed a healthy growth of 21.55 percent in the first half (July-December) period of the current fiscal year (FY20) fetching $511.73 million higher than the strategic export target of $400.72 million for the period.

The export earnings from jute and jute-made goods during the July-December period of the last fiscal year (FY19) were $421.02 million, according to the latest statistics from the Export Promotion Bureau (EPB), reports BSS.

The EPB data revealed that the export of raw jute during this first half of current fiscal totaled $88.62 million followed by jute yarn and twine $314.68 million, jute sacks and bags $58.77 million, man-made filaments and staple fibers $61.13 million and others $49.66 million.

The export target of jute and jute-made goods in the current fiscal year has been set at $824 million.Talking to BSS, the Textiles and Jute Secretary Lokman Hossain Mia said the demand of jute-made goods is growing among the people of Europe and other Western countries since they became much more aware in using natural fiber.

"Considering this demand, Bangladesh is producing newer jute products with different dimensions side by side steps have been taken to make effective branding of local jute products in international market. For this, the export and jute-made goods is gradually increasing." He added.

The Ministry Secretary informed that for ensuring product diversification, modern machineries and equipments are being added to the state-owned jute mills while cash incentives and policy support are also being provided to the private sector entrepreneurs for ensuring product diversification.

Talking to the national news agency, an entrepreneur in the jute sector and also the managing director of Creation Private Limited M Rashidul Karim Munna told BSS that the demand of diversified jute products is increasing in the global market for which the export of jute and jute-made goods is also increasing.

"Multiple products are being produced now-a-days' in the jute sector through research and those are exported abroad. But, the price of jute-made goods is not increasing in the international market although the production cost has risen which has also reduced the rate of profit." He added.

Munna said a scope of boosting huge local and international market of jute-made goods has been created considering the growing demand as well as widespread use of shopping and food-grade bags, composite, geo-textile, pulp and paper.

According to EPB, Bangladesh is now exporting jute and jute-made goods to a number of countries like Afghanistan, Algeria, Austria, Belgium, Benin, Brazil, Bulgaria, Canada, Chili, China, Congo, Costa Rica, Egypt, Italy, Indonesia, Ethiopia, Gambia, Germany, Haiti, India, Ireland, Iran, Japan, Jordan, Korea, Libya, Malaysia, Mexico, Morocco, Myanmar, the Netherlands, Pakistan, Poland, Portugal, Romania, Russia, Saudi Arabia, Sudan South Africa, Taiwan, Tajikistan, Thailand, Turkey, the USA, the UK, Uganda, Uzbekistan, and Vietnam.

There are some 22 state-owned jute mills and some 200 private sector jute mills in the country.

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