Jute industry
Photo: Fazley Elahi Shwopon / Driknews
Our jute industry is facing a number of problems in the backdrop of recent global meltdown. The recession has triggered a decrease in the demand of jute-made products. Prices of jute products have also decreased by nearly 15%. Our local companies are incurring losses by selling their products at prices that do not even cover costs. Moreover, production costs are very high. Indian jute prices are lower and more competitive than ours as they have devalued their currency by 21%. Our government should take advice from the experts to deal with the situation.
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