Poor jute marketing strategy!
This year farmers have sown jute on 20% more land after seeing its good price in the previous year.
But it is unfortunate that raw jute price fell by 23 percent this season as reported in a local daily. So the farmers, especially those who have grown jute on leased land, will incur loss.
The reason of this price-fall, reportedly, is the present large stockpiles and low demand from foreign buyers. It is said that among the foreign buyers the Middle East, North African countries and Turkey buy 66 percent of Bangladeshi yarn to use as a raw material to make carpets.
The authority shows that debt crisis in Europe and the ongoing unrest in the Middle East dampened the demand for this environment-friendly fiber. But is it sure and are we really promoting our jute with a rich marketing strategy to explore new markets at home and abroad.
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