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Related Keywords: 000 tonnes, annual capacity of producing 50, conducive land, easy availability of fibre, Gloster Ltd, investing Rs500 crore, jute products manufacturer, jute textiles and products, Kolkata based jute bags, labour policy, raw jute, robust demand from international market, set up manufacturing unit in Bangladesh, two business units in West Bengal

Gloster Ltd, a Kolkata-based jute bags and jute products manufacturer who has two business units in West Bengal with an annual capacity of producing 50,000 tonnes of jute textiles and products is looking to set up a manufacturing unit in Bangladesh investing around Rs500 crore.

Some of the key reasons for the company looking at setting up its manufacturing unit in Bangladesh are the easy availability of the fibre – raw jute – and a ‘conducive’ land and labour policy.

Related Keywords: approval for ncrease in the Minimum Support Price, Cabinet approved setting up of Government e-Marketplace Special Purpose Vehicle, Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, Jute mainly used as raw material, Packaging Industry, raw jute, this season, to protect the economic interests of the farmers

Jute is mainly used as raw material for Packaging Industry. The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi in order to protect the economic interests of the farmers has given its approval for the increase in the Minimum Support Price (MSP) for raw Jute to a level of Rs35000/- per quintal for 2017-18 season which indicates an increase of Rs. 300/- (9.4%) over the previous year.

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: advises government on pricing policy, Agriculture Ministry, boost jute production, Commission for Agricultural Costs and Prices, cultivation declining in recent years, inflationary trends, major farm produces, Niti Aayog pitched for marginal increase, proposed hike in MSP, raw jute, statutory body, Textile Ministry

The Agriculture Ministry in order to boost jute production has proposed hike in minimum support price (MSP) of raw jute because its cultivation has been declining in the recent year.

In the Cabinet note, Agriculture Ministry has proposed an 18.5 percent increase in jute MSP to ₹3,200 a quintal for 2016-17, which is in line with the CACP’s recommendation, according to sources.

In 2015-16, the jute support price was fixed at ₹2,700.

Related Keywords: . B-Twill sacking bags, Centre contemplating decrease in subsidy, golden fiber, governement set to 'cap' prices of raw jute, higher burden of subsidy, Jute Commissioner, jute cultivation, Jute Industry, on rise, one cheapest items India produces, price of jute produce, raw jute, shortage in production

The jute cultivation and jute industry that faced huge losses and shortage in production due to floods in West Bengal last year is a cause of concern for the government as the price of jute, that is one of the cheapest items India produces, is on rise, said a senior official in the Ministry of Textiles.

Raw jute prices have already touched an unprecedented high of Rs 54,000 a tonne, twice the level of Rs 27,000 per tonne in the year-ago period. Mill owners and traders feel commercial intervention by JCI would spike raw jute prices to the level of Rs 60000 a tonne.

Related Keywords: bad time for BJMC, Bangladesh economy, employment in jute manufacturing, Jute vital sector, lack of proper planning, people depend on jute farming, purchase mechanism, raw jute, trading

Jute has been a vital sector for the country's economy and remains so even today with about 45 million people of the country depend directly or indirectly on jute farming, trading and employment in jute manufacturing. Bad time for the country's jute industry has staged a comeback after some years to haunt the nation said the Chairman of the Bangladesh Jute Mills Corporation (BJMC).

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.