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Related Keywords: ban on raw -jute export, Bangladesh, BJMA, BJMC enforcement of the packaging law, DoJ, farmers in race to scale up farming, FBCCI, fueled demand for fibre, golden fiber, implementation of mandatory jute packaging law, jute farming, key player in world jute market, quality raw jute supplies, smooth supply of the item for local millers

Bangladesh is a key player in the world jute market, contributing almost 45 percent to production, while 60 percent to exports. After implementation of the mandatory jute packaging law, which has fueled demand for the fibre at home, farmers are in race to scale up farming.

After a slight decline in production last year, a bumper output of jute is expected this year as farmers this time are cultivating the fibre, encouraged by higher prices on the local market.

Related Keywords: aiming to implement MJPL, Bangladesh government, BJMA, BJMC, BJSA, consider employment, impose a month long ban, jute production, MOTJ, prevent smuggling, raw jute export

Bangladesh Jute Mills Corporation (BJMC), Bangladesh Jute Spinners Association (BJSA) and Bangladesh Jute Mills Association (BJMA) hailed the government decision for imposing a month-long ban on raw jute export aiming to make the implementation of the Mandatory Use of Jute Product Labeling Law (MJPL) 2010 a success.

The ban has been slapped to increase supply of the fibre for local jute bag and sack-makers, an official at the Ministry of Textile and Jute (MoTJ) said.

Related Keywords: Bangladesh exporter, BJMA, BTMA, cash incentives, continue special income tax rate, cut down or waive off, dying, for primary textile sectors, higher licence fees, National Board of Revenue, printing and finishing mills, spinning, tax at source on export earnings, weaving

Bangladesh exporters yearn for tax at source on export earnings and tax on cash incentives to be waived or cut down in the budget for fiscal year 2015-16 to make it uniform for all exporters, as it is not a profit of the exporters.

The exporters, textile mills, jute and plastic sectors proposed to the National Board of Revenue (NBR) to cut tax at source on export to 0.30 per cent from existing 0.60 per cent.

Currently, apparel exporters are enjoying 0.30 percent tax rates on export bill while others are paying 0.60 per cent

Related Keywords: Bangladesh jute export, BISA, BJMA, BJMC, forced to cut production, hampered production and exports, jute mills, local trade of jute, peak season for jute harvest, Supply shortage of raw jute

Bangladesh exports and local trade of jute hit hard by 20-30 per cent in the last 26 days due to political turmoil. The jute sector suffered loss of an estimated Tk 5.1 billion, insiders said. The Bangladesh Jute Mills Corporation (BJMC), Jute Mills Association (BJMA), Jute Spinners Association (BJSA) officials said that nearly 249 jute mills in the country have been forced to cut production by 42,000 tonnes owing to the blockade enforced by the BNP-led alliance since January 5.

Related Keywords: Bangaldesh private jute mills, Bangladesh Bank, BJMA, BJMC, financial assistance, fund constraint, government, jute goods, Ministry of Textiles and Jute, state owned jute mills

The Bangladeshi private jute millers are facing acute fund constraints due to decline in exports of jute goods. Under the Bangladesh Jute Mills Association, the mills have been demanding similar financial assistance from the government that is being given to the state-owned jute mills
to run their mills.

The Ministry for Textile and Jute recently urged the central bank to instruct the scheduled banks to implement the decision of the ministry's advisory committee on jute to give private mills equal facilities which the BJMC mills are now enjoying.