Diversification needed to revive jute exports
Diversification, with innovation being taken into consideration should be the key factor to proper in the light of potential global demand for Jute products of Bangladesh. Furthermore, participation of manufacturers and analysis of the need of Jute in an international context are as vital. With nations and governments supporting "green", green products like for shopping bags, geo textile, pulp and paper are growing, while plastic is being frowned upon. Bangladesh is already operating with major crops being stocked in jute bags, by new law.
Raw jute demand rises after new packaging rules
The law has subjected additional production of 1.5 milllion bales of rarw jute. previously it was 4.5m bales, while currently requirement is 7m bales, since ruling came into effect in November. With punishement of 1 year imprisonment or Tk 50,000 fine or both, the country is pretty serious. To serve local demand there even have been temporary bans on raw jute. With higher targets, it is a challenge with funding and only 22 jute mills employing 60 thousand workers.
Raw jute, yarn and jute-bags already earns for Bangladesh. Yarn earns multiple times more. However, with diversified products, potential is 3-10 times more compared to both forms. Thus product diversification is critical for supporting growth.
Diversification, with innovation being taken into consideration should be the key factor to proper in the light of potential global demand for Jute products of Bangladesh. Furthermore, participation of manufacturers and analysis of the need of Jute in an international context are as vital. With nations and governments supporting "green", green products like for shopping bags, geo textile, pulp and paper are growing, while plastic is being frowned upon. Bangladesh is already operating with major crops being stocked in jute bags, by new law.
Raw jute demand rises after new packaging rules
The law has subjected additional production of 1.5 milllion bales of rarw jute. previously it was 4.5m bales, while currently requirement is 7m bales, since ruling came into effect in November. With punishement of 1 year imprisonment or Tk 50,000 fine or both, the country is pretty serious. To serve local demand there even have been temporary bans on raw jute. With higher targets, it is a challenge with funding and only 22 jute mills employing 60 thousand workers.
Raw jute, yarn and jute-bags already earns for Bangladesh. Yarn earns multiple times more. However, with diversified products, potential is 3-10 times more compared to both forms. Thus product diversification is critical for supporting growth.
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