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[🇧🇩] Jute Industry in Bangladesh
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Saif
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Exporting RAW jute won't fetch us billions of dollars from the international market. But if we can produce various jute goods like carpet, furniture, art, accessories etc. we definitely can earn tens of billions of dollars from the international market. If we don't have it already then it is high time we establish a Jute research center in the country.
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Government to form jute council: Nanak
Textiles and Jute Minister Jahangir Kabir Nanak on Wednesday said the government will form a jute council for the development of the jute industries and the jute sector. "Jute council will play an important role in the development of jute industries and the jute sector," he said while speaking
Government to form jute council: Nanak
FE ONLINE DESK
Published :
Apr 24, 2024 18:31
Updated :
Apr 24, 2024 18:31
Textiles and Jute Minister Jahangir Kabir Nanak on Wednesday said the government will form a jute council for the development of the jute industries and the jute sector.
"Jute council will play an important role in the development of jute industries and the jute sector," he said while speaking as the chief guest at the annual general meeting of Bangladesh Jute Mills Association (BJMA) at Samson H Chowdhury Centre at Dhaka Club, reports BSS.
Nanak said Prime Minister Sheikh Hasina directed the Textiles and Jute Ministry to develop the jute industries as she wants the jute sector to earn huge foreign currencies.
The government is giving all-out supports to the jute sector following the footstep of Father of the Nation Bangabandhu Sheikh Mujibur Rahman who worked for the development of jute sector, he said.
Prime Minister Sheikh Hasina has already taken different initiatives for the development of the jute industries, he added.
Mentioning that the Textiles and Jute Ministry is working for the developing of jute sector and jute mills, Nanak said, "I have directed the Deputy Commissioners (DC) to stop the use of polythene bags of 50 kg. We have initiated to make big jute bags and we want to export those to foreign markets."
He urged the BJMA leaders to help stop the use of polythene bags in the country.
At the meeting, the BJMA leaders discussed about various problems of jute mills in the meeting.
Chairman of BJMA Md Abul Hossain presided over the meeting, while Kazi Nabil Ahmed, MP, FBCCI vice-president Shomi Kaiser, and former chairman of BJMA Syed Ali, among others, spoke in the discussion.
FE ONLINE DESK
Published :
Apr 24, 2024 18:31
Updated :
Apr 24, 2024 18:31
Textiles and Jute Minister Jahangir Kabir Nanak on Wednesday said the government will form a jute council for the development of the jute industries and the jute sector.
"Jute council will play an important role in the development of jute industries and the jute sector," he said while speaking as the chief guest at the annual general meeting of Bangladesh Jute Mills Association (BJMA) at Samson H Chowdhury Centre at Dhaka Club, reports BSS.
Nanak said Prime Minister Sheikh Hasina directed the Textiles and Jute Ministry to develop the jute industries as she wants the jute sector to earn huge foreign currencies.
The government is giving all-out supports to the jute sector following the footstep of Father of the Nation Bangabandhu Sheikh Mujibur Rahman who worked for the development of jute sector, he said.
Prime Minister Sheikh Hasina has already taken different initiatives for the development of the jute industries, he added.
Mentioning that the Textiles and Jute Ministry is working for the developing of jute sector and jute mills, Nanak said, "I have directed the Deputy Commissioners (DC) to stop the use of polythene bags of 50 kg. We have initiated to make big jute bags and we want to export those to foreign markets."
He urged the BJMA leaders to help stop the use of polythene bags in the country.
At the meeting, the BJMA leaders discussed about various problems of jute mills in the meeting.
Chairman of BJMA Md Abul Hossain presided over the meeting, while Kazi Nabil Ahmed, MP, FBCCI vice-president Shomi Kaiser, and former chairman of BJMA Syed Ali, among others, spoke in the discussion.
Saif
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Govt to impose tariffs on raw jute exports
The government is taking steps to address the issue of cheap raw-jute exports to India, which has been putting negative impacts on the country's jute industry. State minister for commerce Ahsanul Islam Titu has proposed imposing tariffs on raw jute exports - a move supported by jute mill o
Govt to impose tariffs on raw jute exports
FE REPORT
Published :
May 14, 2024 00:36
Updated :
May 14, 2024 00:36
The government is taking steps to address the issue of cheap raw-jute exports to India, which has been putting negative impacts on the country's jute industry.
State minister for commerce Ahsanul Islam Titu has proposed imposing tariffs on raw jute exports - a move supported by jute mill owners and other industry stakeholders.
"We'll impose tariffs on raw jute exports and set a minimum export price for the golden fibre. This action will safeguard local industries, ensure better prices for farmers and increase government revenues," he said.
Mr Titu said this while addressing a discussion on the supply of raw jute and the condition of local factories organised by the Bangladesh Jute Mills Association (BJMA) at its auditorium in the capital on Monday.
During the meeting, it was agreed that a minimum export price (MEP) for raw jute would be set.
BJMA president Abul Hossain chaired the event while senior commerce secretary Tapan Kanti Ghosh and FBCCI president Mahbubul Alam also spoke on the occasion.
Mr Hossain says there is an urgent need to address various challenges the industry has been facing for last few years.
He also highlighted the need for cancelling anti-dumping duties imposed by India, the abolition of the 2.0-percent source tax on raw jute, the supply of quality jute seeds and 30-percent cash assistance for the renewal of machinery in jute mills.
Responding to these concerns, the state minister said: "We've initiated discussions with India about the anti-dumping duties. We'll continue these discussions once the elections in India are concluded."
Mr Titu says, "We need effective implementation of the mandatory jute packaging law to increase the use of jute."
He pledged strong cooperation between the ministry of textiles and jute and the commerce to ensure proper supervision and assistance in jute exports.
Agreeing to another demand of the BJMA during the meeting, the state minister said currently, raw jute is being exported via trucks through various ports, and the exact amount of jute export is unknown.
As a result, the ministry has decided to make shipping mandatory for jute exports.
The commerce ministry will also address this issue accordingly.
The meeting also addressed the issue of jute seed shortage, with stakeholders highlighting the need for policy support to address this crisis.
Speaking on the occasion, Mahbubul Alam said there is a critical need to recognise jute as an agricultural product.
He has urged the government to take necessary steps to support jute farmers and industries.
In his address, Tapan Kanti Ghosh, said: "At one point, we halted the export of raw jute. Upon your request, we resumed it. However, it is crucial to evaluate the effectiveness of this export. Furthermore, there are issues regarding cash incentives, which could be redirected from the export stage to the production stage, providing significant benefits."
Speaking about the classification of jute as an agricultural product, he said, "Jute has been categorised as an agricultural product since 2023. Nevertheless, we are currently exploring whether jute products should also be classified as processed agricultural products."
According to the BJMA, Bangladesh annually exports jute and jute goods worth nearly $1.0 billion.
Lawmaker Nabil Ahmed, BJMA vice-president Rabiul Ahsan, its directors Giridhari Lal Modi, Md Shahjahan, secretary general Bariq Khan, also spoke, among others.
FE REPORT
Published :
May 14, 2024 00:36
Updated :
May 14, 2024 00:36
The government is taking steps to address the issue of cheap raw-jute exports to India, which has been putting negative impacts on the country's jute industry.
State minister for commerce Ahsanul Islam Titu has proposed imposing tariffs on raw jute exports - a move supported by jute mill owners and other industry stakeholders.
"We'll impose tariffs on raw jute exports and set a minimum export price for the golden fibre. This action will safeguard local industries, ensure better prices for farmers and increase government revenues," he said.
Mr Titu said this while addressing a discussion on the supply of raw jute and the condition of local factories organised by the Bangladesh Jute Mills Association (BJMA) at its auditorium in the capital on Monday.
During the meeting, it was agreed that a minimum export price (MEP) for raw jute would be set.
BJMA president Abul Hossain chaired the event while senior commerce secretary Tapan Kanti Ghosh and FBCCI president Mahbubul Alam also spoke on the occasion.
Mr Hossain says there is an urgent need to address various challenges the industry has been facing for last few years.
He also highlighted the need for cancelling anti-dumping duties imposed by India, the abolition of the 2.0-percent source tax on raw jute, the supply of quality jute seeds and 30-percent cash assistance for the renewal of machinery in jute mills.
Responding to these concerns, the state minister said: "We've initiated discussions with India about the anti-dumping duties. We'll continue these discussions once the elections in India are concluded."
Mr Titu says, "We need effective implementation of the mandatory jute packaging law to increase the use of jute."
He pledged strong cooperation between the ministry of textiles and jute and the commerce to ensure proper supervision and assistance in jute exports.
Agreeing to another demand of the BJMA during the meeting, the state minister said currently, raw jute is being exported via trucks through various ports, and the exact amount of jute export is unknown.
As a result, the ministry has decided to make shipping mandatory for jute exports.
The commerce ministry will also address this issue accordingly.
The meeting also addressed the issue of jute seed shortage, with stakeholders highlighting the need for policy support to address this crisis.
Speaking on the occasion, Mahbubul Alam said there is a critical need to recognise jute as an agricultural product.
He has urged the government to take necessary steps to support jute farmers and industries.
In his address, Tapan Kanti Ghosh, said: "At one point, we halted the export of raw jute. Upon your request, we resumed it. However, it is crucial to evaluate the effectiveness of this export. Furthermore, there are issues regarding cash incentives, which could be redirected from the export stage to the production stage, providing significant benefits."
Speaking about the classification of jute as an agricultural product, he said, "Jute has been categorised as an agricultural product since 2023. Nevertheless, we are currently exploring whether jute products should also be classified as processed agricultural products."
According to the BJMA, Bangladesh annually exports jute and jute goods worth nearly $1.0 billion.
Lawmaker Nabil Ahmed, BJMA vice-president Rabiul Ahsan, its directors Giridhari Lal Modi, Md Shahjahan, secretary general Bariq Khan, also spoke, among others.
Saif
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Nanak urges India to lift ADD on jute products
Textiles and jute minister Jahangir Kabir Nanak on Tuesday requested India to lift anti-dumping duty on jute products...
www.newagebd.net
Nanak urges India to lift ADD on jute products
Bangladesh Sangbad Sangstha . Dhaka 14 May, 2024, 22:26
| — Focusbangla photo
Textiles and jute minister Jahangir Kabir Nanak on Tuesday requested India to lift anti-dumping duty on jute products.
He made the request when Indian high commissioner to Bangladesh Pranay Verma called on him at his office at the secretariat, a press release said.
Textiles and jute secretary Md Abdur Rauf, director general of the Department of Textiles Md Nuruzzaman, executive director of Jute Diversification Promotion Centre Syeda Farhana Kawnine, political counsellor of Indian Embassy in Dhaka Pawan Badhe and first secretary at High Commission of India in Dhaka Pratik Negi were present on the occasion, the release added.
The minister called for increasing mutual cooperation in silk industry, saying that Bangladesh Silk Development Board and Central Silk Board of India could work together for the overall development of silk products.
While taking to the media after the meeting with the Indian envoy, Nanak said that various bilateral issues, including easing India's visa process, were discussed in the meeting.
India has shown keen interest to invest in three jute mills in Bangladesh, he added.
About BNP, the AL leader said that BNP had no chance to gain political advantage over the issue of boycotting Indian products.
'If the prices of vegetables are lower in our country after bringing them from India, people will buy those. Politics does not stand with business relations. BNP will not succeed in this kind of campaign,' he added.
Replying to another query over the visit of US assistant secretary of state for South and Central Asian Affairs Donald Lu, he said that Lu was visiting Dhaka to strengthen relations with the government.
The government's relationship with the United States has always been good, he mentioned.
Bangladesh Sangbad Sangstha . Dhaka 14 May, 2024, 22:26
| — Focusbangla photo
Textiles and jute minister Jahangir Kabir Nanak on Tuesday requested India to lift anti-dumping duty on jute products.
He made the request when Indian high commissioner to Bangladesh Pranay Verma called on him at his office at the secretariat, a press release said.
Textiles and jute secretary Md Abdur Rauf, director general of the Department of Textiles Md Nuruzzaman, executive director of Jute Diversification Promotion Centre Syeda Farhana Kawnine, political counsellor of Indian Embassy in Dhaka Pawan Badhe and first secretary at High Commission of India in Dhaka Pratik Negi were present on the occasion, the release added.
The minister called for increasing mutual cooperation in silk industry, saying that Bangladesh Silk Development Board and Central Silk Board of India could work together for the overall development of silk products.
While taking to the media after the meeting with the Indian envoy, Nanak said that various bilateral issues, including easing India's visa process, were discussed in the meeting.
India has shown keen interest to invest in three jute mills in Bangladesh, he added.
About BNP, the AL leader said that BNP had no chance to gain political advantage over the issue of boycotting Indian products.
'If the prices of vegetables are lower in our country after bringing them from India, people will buy those. Politics does not stand with business relations. BNP will not succeed in this kind of campaign,' he added.
Replying to another query over the visit of US assistant secretary of state for South and Central Asian Affairs Donald Lu, he said that Lu was visiting Dhaka to strengthen relations with the government.
The government's relationship with the United States has always been good, he mentioned.
Saif
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The market for raw jute has diminished. If Bangladesh wants to revive its jute industry then it has to develop new jute verities and integrate advanced technology to produce verities of jute products.
Saif
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Bangladesh's quest to restore the golden glory of jute | Bangladesh
In an effort to breathe a new life into Bangladesh's jute industry, the government is actively exploring untapped markets to elevate the global significance of jute and its associated products.<p>State Minister for Foreign Affairs, Shahriar Alam, conveyed this commitment at a function in Dhaka...
Bangladesh's quest to restore the golden glory of jute
In an effort to breathe a new life into Bangladesh's jute industry, the government is actively exploring untapped markets to elevate the global significance of jute and its associated products.
Jute, once hailed as Bangladesh's 'Golden Fibre,' reached its zenith 52 years ago. File photo
State Minister for Foreign Affairs, Shahriar Alam, conveyed this commitment at a function in Dhaka, urging foreign diplomats to champion the cause of eco-friendly jute products.
However, amidst this ambitious quest lies a pressing concern — a decade-long decline in jute prices within Bangladesh. Presently, the market sees jute being traded at a rate ranging from Tk 1,800 to Tk 2,200 per maund, marking a significant drop from Tk 2,400 to Tk 2,800 per maund just a year prior.
This trend has left those who stockpiled jute last year in anticipation of higher prices facing considerable financial losses.
The Bangladesh Jute Association (BJA) underscores the effective role the government can play in sustaining the jute industry.
Their recommendations include ensuring fair procurement prices, offering loans and incentives through banks, and extending cash support to individuals involved in jute-related exports. The absence of government support could potentially plunge everyone associated with the jute sector into challenging times.
Against the backdrop of these challenges, there is optimism among stakeholders that the government will intervene, providing the necessary support to rejuvenate the sector and usher in a new era of prosperity.
The Rise and Fall of Jute
Jute, once hailed as Bangladesh's 'Golden Fibre,' reached its zenith 52 years ago. Now, the government is on a mission to resurrect its former glory. Agronomists are immersed in intensive research to develop new jute varieties, and the integration of advanced technology is deemed a crucial step towards restoring the industry's former splendour.
The Ideal Growing Conditions: Bangladesh's Natural Advantage
The thriving growth of jute plants hinges on fertile, well-drained soil with excellent water-holding capacity. The alluvial soil in the deltaic regions of Bangladesh, enriched by sediment deposits from the Ganges and Brahmaputra rivers, creates the ideal conditions for optimal jute cultivation.
Economic Contributions and Global Presence
Bangladesh's jute exports make significant contributions to the national income. With 285 diverse jute products exported worldwide, including raw jute, hessian, bags, sacks, ropes, and carpets, the country has solidified its position as a key player in the global jute market.
Challenges and the Road Ahead
Despite its historical significance, Bangladesh's jute sector grapples with challenges such as mismanagement and corruption within the Bangladesh Jute Mills Corporation (BJMC), a lack of modern machinery, a shortage of skilled workers, weak marketing strategies, and government policies that demand reassessment.
Global Dynamics: India and Turkey's Roles
India holds the position of the world's largest producer of raw jute and jute goods, contributing over 50% and 40% of global production, respectively. Turkey emerges as Bangladesh's largest market for jute yarn and twine, with other major export destinations including Iran, India, Pakistan, and China.
Seizing Opportunities: The $2.6 Billion Jute Bag Market
The global market for jute bags is projected to reach $2.6 billion in 2022, presenting a significant opportunity for Bangladesh. Currently producing 33% of the world's total jute and exporting 90% of the raw jute it produces, Bangladesh has the potential to leverage this opportunity for sustainable economic growth.
A Sustainable Future for Bangladesh's Jute Industry
As Bangladesh endeavours to reinstate the prominence of its jute industry on the world stage, collaborative efforts involving the government, industry players, and international partnerships are crucial.
Addressing challenges and capitalizing on global opportunities can position Bangladesh's jute sector as a beacon of economic strength and environmental responsibility once again.
In an effort to breathe a new life into Bangladesh's jute industry, the government is actively exploring untapped markets to elevate the global significance of jute and its associated products.
Jute, once hailed as Bangladesh's 'Golden Fibre,' reached its zenith 52 years ago. File photo
State Minister for Foreign Affairs, Shahriar Alam, conveyed this commitment at a function in Dhaka, urging foreign diplomats to champion the cause of eco-friendly jute products.
However, amidst this ambitious quest lies a pressing concern — a decade-long decline in jute prices within Bangladesh. Presently, the market sees jute being traded at a rate ranging from Tk 1,800 to Tk 2,200 per maund, marking a significant drop from Tk 2,400 to Tk 2,800 per maund just a year prior.
This trend has left those who stockpiled jute last year in anticipation of higher prices facing considerable financial losses.
The Bangladesh Jute Association (BJA) underscores the effective role the government can play in sustaining the jute industry.
Their recommendations include ensuring fair procurement prices, offering loans and incentives through banks, and extending cash support to individuals involved in jute-related exports. The absence of government support could potentially plunge everyone associated with the jute sector into challenging times.
Against the backdrop of these challenges, there is optimism among stakeholders that the government will intervene, providing the necessary support to rejuvenate the sector and usher in a new era of prosperity.
The Rise and Fall of Jute
Jute, once hailed as Bangladesh's 'Golden Fibre,' reached its zenith 52 years ago. Now, the government is on a mission to resurrect its former glory. Agronomists are immersed in intensive research to develop new jute varieties, and the integration of advanced technology is deemed a crucial step towards restoring the industry's former splendour.
The Ideal Growing Conditions: Bangladesh's Natural Advantage
The thriving growth of jute plants hinges on fertile, well-drained soil with excellent water-holding capacity. The alluvial soil in the deltaic regions of Bangladesh, enriched by sediment deposits from the Ganges and Brahmaputra rivers, creates the ideal conditions for optimal jute cultivation.
Economic Contributions and Global Presence
Bangladesh's jute exports make significant contributions to the national income. With 285 diverse jute products exported worldwide, including raw jute, hessian, bags, sacks, ropes, and carpets, the country has solidified its position as a key player in the global jute market.
Challenges and the Road Ahead
Despite its historical significance, Bangladesh's jute sector grapples with challenges such as mismanagement and corruption within the Bangladesh Jute Mills Corporation (BJMC), a lack of modern machinery, a shortage of skilled workers, weak marketing strategies, and government policies that demand reassessment.
Global Dynamics: India and Turkey's Roles
India holds the position of the world's largest producer of raw jute and jute goods, contributing over 50% and 40% of global production, respectively. Turkey emerges as Bangladesh's largest market for jute yarn and twine, with other major export destinations including Iran, India, Pakistan, and China.
Seizing Opportunities: The $2.6 Billion Jute Bag Market
The global market for jute bags is projected to reach $2.6 billion in 2022, presenting a significant opportunity for Bangladesh. Currently producing 33% of the world's total jute and exporting 90% of the raw jute it produces, Bangladesh has the potential to leverage this opportunity for sustainable economic growth.
A Sustainable Future for Bangladesh's Jute Industry
As Bangladesh endeavours to reinstate the prominence of its jute industry on the world stage, collaborative efforts involving the government, industry players, and international partnerships are crucial.
Addressing challenges and capitalizing on global opportunities can position Bangladesh's jute sector as a beacon of economic strength and environmental responsibility once again.
