Jute has regained its position this fiscal year as the country’s second largest export earning sector, surpassing the value of frozen foods exports after three years, according to the export promotion bureau.
Bangladesh exported raw jute and jute goods worth $547 million compared to frozen foods exports valued $377 million in 10 months of the current fiscal.

This ‘revival’ of the jute sector has been attributed to huge growth in exports of raw jute and jut goods as against falling exports of frozen foods.
The last time the jute sector earned higher mount of foreign currency than the earning from the frozen foods sector was in 2005-06 fiscal when the export of the former was $509 million against the $459 million export earning from the latter.
The readymade garment sector accounts for 76 per cent of the country’s export receipts as the country earned foreign currency amounting to $15.56 billion from the sector in 2008-09 fiscal.

The exports of jute goods rose 70 per cent and raw jute 40.56 per cent during the July-April period of the fiscal compared to the exports of the corresponding period of the previous fiscal.
The exports of frozen food declined by 13.66
per cent in the said 10 months due to strict rules of the European Union countries that slowed down exports from Bangladesh.
Also, the past year’s cyclone Aila damaged many shrimp firms in the southern region affecting the export potentials, industry leaders said.
Bangladesh Jute Goods Association leader Kazi Syedul Alam Babul pointed out that popularity of natural fibres in view of environmental concerns worldwide is pushing up the demand of jute.

Currently, the county produces 5.5 million bales (180 kg=1 bale) of raw jute a year compared to annual production of 7 million bales a decade back. Around 2 million bales are consumed locally and the rest exported.

-The New Age.