Jute, jute goods exports post 21.55pc growth in July-Dec
The export of jute and jute-made goods witnessed a robust growth of 21.55 percent in the first half (July-December) of the current fiscal FY20 when export receipts were recorded at $511.73 million up from the strategic target of $400.72 million for the period.
Export earnings from Jute and jute goods during the July-December period under the previous fiscal FY19 were $421.02 million to show that the receipts this time were significantly higher, as per latest data released by Export Promotion Bureau (EPB).
Export of raw jute fetched $88.62 million during this first half year of the current fiscal. Jute yarn and twine fetched $314.68 million, jute sacks and bags earned $58.77 million, man-made filaments and staple fibers earned $61.13 million and receipts by others were $49.66 million.
The government has set a total export target of $824 million from jute and jute made goods at $824 million during the current fiscal 2019-20. The half-year export already stands significantly up to suggest the year-end figure may far exceed the target.
BSS adds: Secretary of Textiles and Jute ministry Lokman Hossain Mia said demand for jute-made goods is growing in the Europe and other Western countries since people in those countries are more environment conscious and favor use of natural fiber.
"Considering this demand, Bangladesh is producing newer jute products with different dimensions while steps have also been taken for effective branding of local jute products in international market. This is why export of jute-made goods is gradually on rise," he said on Saturday.
The secretary said for achieving product diversification, modern machineries and equipments have been installed in state-owned jute mills while cash incentives and close policy support were made available to the private sector to achieve the goals.
Managing Director of Creation Private Limited M Rashidul Karim Munna told the agency that the demand for diversified jute products is steadily rising in the global market to push its exports up in recent time.
"The jute sector now produces multiple products based on technical research and market demand abroad. But, the price of jute-made goods is not increasing in the international market while production cost is rising every year reducing profit," he said.
Munna said global environment awareness has created scope for boosting jute goods production and marketing locally and at international market. Growing use of jute made shopping and sacks to replace plastic bags, geo-textile, pulp and paper and other jute composites have already created huge local and international market of jute-made goods.
Bangladesh is now exporting jute and jute-goods to over 50 countries. More than 22 state-owned jute mills and over 200 private sector jute mills are now operating in the country.