Price of raw jute in Bangladesh has surged by nearly 19% year-on-year, driven by increased demand following the government’s ban on polythene bags. Production has fallen due to unfavorable weather during the planting season and a decline in cultivation area, as past low prices discouraged farmers. This year’s projected output is around 7.57 million bales, down from 8.41 million last year.
Currently, top-quality jute is selling for around Tk 3,800 per maund (37.32 kg per maund), a significant increase from last year. However, many farmers, facing high costs for fertilizers and labor, sold their jute early in the season, missing out on recent price gains. The price hike has encouraged some farmers to consider cultivating more jute next year, despite this year’s reduced yields.
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