The Bangladesh Government had recently decided to ban exports of raw jute due to pressure from the value-added industry, as prices of the raw material were sky-rocketing due to an unprecedented increase in exports in the current fiscal year (2009-10).
But now the Bangladesh Jute Association (BJA) has urged the government to review the ban on exports of raw jute, considering that it will harm the interests of the jute farmers along with bringing heavy losses to the jute industrial sector.
Earlier the jute manufacturing sector had welcomed the ban by saying that it will ease the supply of raw jute in the domestic markets. Jute prices have jumped from Tk 1200 to 1250 per maund to Tk 1700 - Tk 1750 per maund in just a couple of months, mainly due to shortage of the same.
Fibre2fashion News Desk - India
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