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You are here : Stone Home > Info Center > Financial News > Booming global demands help Bangladesh fetch half- bln-USD from jute product exports

Booming global demands help Bangladesh fetch half- bln-USD from jute product exports

Updated:2010-05-13 17:00:04

Bangladesh in the first three quarters of the current fiscal year 2009-10 ending in June, 2010 fetched nearly half a billion U.S. dollars from exports of raw jute and goods made of the natural fiber on ballooning global demand, a senior official said Wednesday.

The country's Export Promotion Bureau (EPB) official said Bangladesh, the world second largest jute producing nation after India, fetched 475.87 million U.S. dollars during July-March period of the fiscal year 2009-10 (July 2009-June 2010) from raw jute and jute goods exports.

Requesting to be unnamed, he said exports of raw jute and jute goods from Bangladesh boomed as environmental threats and health hazards in synthetic fiber made many interested about the natural fiber made products in the months after the global market recession.

The EPB data showed Bangladesh's export earning from jute goods, marking 60.81 percent growth, stood at 320.34 million U.S. dollars in July-March period while during the same months raw jute export reached 155.53 million U.S. dollars, up 51.23 percent year on year.

Bangladesh's earnings from exports of raw jute and jute goods like bag, rope and yarn for carpet making in the first quarter ( July- September) of the current fiscal year marked 5.18 percent and 27.92 percent growth to 85.62 million U.S. dollars and 36.01 million U.S. dollars respectively.

The growths, however, during first half from July to December of the current fiscal year grew 39.59 percent and 28.22 percent to 191 million U.S. dollars and 95.65 million U.S. dollars respectively, showing huge demand hike for the natural fiber made goods in global market.

Officials said that the jute and jute goods are rapidly regaining their lost grounds in the global market as the conscious buyers for better environment and escaping health hazards in synthetic fiber are favoring more natural fiber made goods.

They said demand hike in use of synthetic thread across the world decades ago outclassed the natural fiber, which was once regarded as golden fiber not only in Bangladesh but also in the region.

Director General of Bangladesh Jute Research Institute (BJRI), Kamal Uddin, had earlier said that more and more people across the world are now aware of the factors which are considered as responsible for global warming and rise in sea level, resulting frequent natural calamities.

Apart from this, he said global recession, which jolted many developed nations and their people, came as a big boon for Bangladesh in pushing up demand for environment-friendly natural fiber jute and its goods, which are comparatively cheaper in European and American markets.

More and more farmers in Bangladesh will be encouraged in cultivation of the natural fiber if such a soaring trend in global demand for raw jute and jute made goods continue, sector insiders said.

Bangladesh now produces 5 million to 5.5 million bales (1 bale equals about 180 kg) of jute while output of the same in the country was around 7 million bales decades ago, the BJRI data showed.

 

 

Source:http://news.xinhuanet.com

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