On the basis of their quality, farmers are now able to earn a fair price of jute in the range of Tk 1,400-1,800 per maund, in the country's northern region.
However, although farmers are earning a fair price, hundreds of middlemen might generate almost two-fold the profits as they are found hoarding huge stocks, which they can trade after a few months, informed, farmers and industry experts.
In the mean time, distribution of Tk 76 million amongst 3,80,000 farmers of all eight districts, under the Rangpur division is nearing completion. This fund was distributed for easing jute rotting process and upgrading fibre quality by making use of the ribbon retting method.
Around 15 jute mills under Bangladesh Jute Mills Corporation (BJMC) have been buying jute at rates ranging between Tk 1,400-1,640, on basis of the quality of fibre. Key private sector jute mill have been buying the finest quality jute at a rate close to Tk 1,800 per maund.
But in other upazilas, wherein there exist no purchasing centres of the BJMC or private sector key jute mills, farmers are trading jute fibre in the range of Tk 1,000-1,300. taking advantage of this, the middlemen are buying bulk quantities of the jute fibre at reduced prices, similar to their practice in the previous years, and are stocking them in their own godowns.
ALCHEMPro News Desk - India
marketing@alchempro.com
