A victory for exporters of low-grade raw jute
The government has allowed the export of low-quality raw jute that was ready for shipment before an abrupt ban came into effect on January 18.
Earlier on January 18, the ministry of textiles and jute abruptly slapped a ban on the export of low-quality raw jute after allegations that inferior grade fibre was being shipped in the name of quality jute.
As a result, exporters could not ship 28,335 tonnes of the low-grade jute, according to data from the Bangladesh Jute Association.
But in a notification yesterday the ministry said the shipment of Un-cut, Bangla Tossa Rejection (BTR) and Bangla White Rejection (BWR) could be done for letters of credit that were opened before January 18.
The move came following appeals from the BJA, which protested the ban as the move would restrict overseas sales of the natural fibre and discourage growers.
Raw jute exports fell 18 percent year-on-year to $95 million in the first seven months of the fiscal year, according to Export Promotion Bureau.
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