Editorial
Growing interest in jute
It calls for responsive policy measures
The recently slapped government ban on raw jute export has caused the once famed 'Golden Fibre' to come to the fore. The background story speaks for itself. During the July-September quarter of this fiscal, export of raw jute registered a rise of 28 per cent over what it was in the corresponding previous fiscal. The volume of raw jute produced this year is also estimated to be as high as 5.5 million bales. Matching the rise in exports, the price of raw jute, too, has shot up in the local market. Some traders are also allegedly stocking up on raw jute raising its price artificially in the market. As a consequence, jute mills, which manufacture various jute-based commodities like gunny bags, carpet backing and the like are facing crisis in the supply of their raw material.
Though raw jute export brings immediate cash, the export of jute-based commodities has proved to be more gainful. What is more, the jute mills that manufacture these goods from raw jute employ thousands of workers. Due to rise in raw jute price, these jute mills are suffering. This places the raw jute traders at odds with the manufacturing units depending on raw jute. The situation calls for a kind of decision from the government that can strike a balance between the demands of both the sectors.
The seeming predicament apart, the entire development is a welcome one, because jute has the immense potentialities to open up a new window of opportunity for the export sector. Jute being a natural and at the same time biodegradable stuff, it fits well into the recent surge in the demands for eco-friendly materials. Add to it the fact that jute has long been the source of good seasonal earning for the peasantry until it fell from grace.
This new surge of interest in this crop, therefore, requires of the policymakers to be duly responsive to the emerging needs of this sector of the economy. The jute farmers have to be given the necessary incentive to grow quality jute. To this end, bank credit, good quality seeds and other facilities should be brought within their easy reach. To ensure them remunerative price for their labour, the government needs to free the local markets from the tyranny of the middlemen, who push up the raw jute price artificially and thereby deprive the farmers of their due unfairly.
For all latest news, follow The Daily Star's Google News channel.
Comments