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Related Keywords: IJMA, Indian traders prefer jute import, jute bag, jute yarn, lower than in India, Nepal and Bangladesh, Nepal used a conduit, Prices of jute likely to stabilize in Indian domestic market, Production cost in Bangladesh thirty percent cheaper, production costs of jute, raw jute, third party illegal imports, with Bangladesh lifting jute export ban

With Bangladesh lifting jute export ban its prices in domestic market likely stabilize as per Indian traders prefer jute import from Nepal and Bangladesh as production costs of jute in two countries lower than in India. Production costs in Bangladesh are cheaper than those in India by 30 per cent. While, Nepal is used as a conduit for third party illegal imports.

Related Keywords: apply for NOC, exports declined, import of finished good jumped up, imported raw jute, Indian jute industry, jute yarn, not be used to manufacture sacks, Office of Jute Commissioner, protect domestic jute industry, register jute unit, unable to scale up production, used for packaging, utlilize by reserved sector

The Indian jute industry has been unable to scale up production or export of jute goods. The country's imports of finished goods have jumped up 24 percent, while exports have declined by 22 percent during April-January period of 2014-15. The government to protect the domestic jute industry has announced that that imported raw jute and jute yarn will not be used in the manufacturing of sacks which are used for packaging of commodities in the reserved sector, a notice from the office of the Jute Commissioner stated.

Related Keywords: additonal incentives cut, Bangalesh Bank, Bangladesh government, central bank issued circular, fourteen sectors including apparel, incentives reduced on finished jute producs, jute yarn, rate unchanged for new products in apparel sector, reworked on cash incentive rate, to encourage exports

The Bangladesh government has reworked on cash incentive rate for 14 sectors including apparel to encourage exports during the current fiscal year. The central bank issued a circular to this effect on Monday. According to Bangladesh Bank, exporters were given Tk 34 billion in cash incentive in the just concluded 2014-15 FY.

The circular states that incentives have reduced on finished jute products from 10 percent to 7.5 percent, on jute yarn from 7.5 percent to 5 percent and in case of leather goods from 15 percent to 12.5 percent.

Related Keywords: Bangladesh Central Bank, Bangladesh jute industry, BJMA and BJMC, BJSA, captial machinery import, Export development fund, jute millers loan, jute yarn, Ministry of Textiles and Jute

Bangladesh Central bank are reluctant to give jute millers loan from Export Development Fund (EDF) fund for import of capital machinery as it will impair the purpose of the fund and squeeze the number of beneficiary despite jute mills persistently pressing the bank for support from the EDF fund.

Related Keywords: Bangladesh export, Export Promotion Bureau, home textiles, jute yarn, Knitwear, moderate performance, strategic target, touch $5142.24 million, woven garments

Bangladesh’s export witnessed 2.07 percent growth riding on the moderate performance of the key knitwear, leather and leather products touching $ 5,142.24 million in the first two months (July-August) of the current fiscal (2014-15).

The figure is, however, 9.16 percent lower than the strategic target of $ 5,660.60 million, according to the latest figures released by the Export Promotion Bureau (EPB).

The single month export earnings in August totaled $ 2,159.50 million with a 7.25 percent growth but fell 17.46 percent short of the target.

Related Keywords: agro product, export subsidy, Jute Industry, jute yarn, raw jute, Shippers council of Bangladesh

The Bangladeshi government is being strongly urged to proclaim raw jute an agriculture product and also demanded increase in export subsidy on jute yarn which is currently 7.5 percent to 10 percent by the Shippers Council of Bangladesh (SCB).

They have also demand the government without more ado to pay Tk2.5 billion in arrears to the jute traders before the start of raw jute purchase which will begin from July.