Jute imports from Bangla may rise 78%

Imports of jute products from Bangladesh during January-July 2008 would increase by 115 per cent in value and 78 per cent in volume compared with those for the same period last year, according to the government estimates.

Raw jute imports from the country are also likely to go up by 35 per cent in volume and 7.2 per cent in value during the period. Ever since the government has removed import duty on jute products, goods from Bangladesh are flooding the Indian market.

The domestic jute industry has been urging the government to revoke its decision if it wants to save the country's jute sector.

While imports of jute products during January-July 2007 stood at 34,208 tonnes, it will go up to 61,158 tonnes during the same period in 2008. The cost of imports will rise from Rs 79.67 lakh to Rs 1.72 crore during the period.

Imports of raw jute is expected to go up to 6.69 lakh bales from the previous 4.94 lakh bales. In value terms, the rise will be from Rs 1.25 crore to Rs 1.34 crore.

Meanwhile, exports went down from 66,000 tonnes in April-June 2006 to 60,000 in 2007. However, exports earnings went up from Rs 256 crore to Rs 258 crore during the period on rise in global prices.