JUTE prices are rising sharply following the flooding in the worlds two main producing areas, India and Pakistan.
The Indian benchmark TD-4 has jumped 20% to Rs930 a quintal (1000kg) since the beginning of August.
India harvested over 10m bales of 180kg each last year and the industrys pre-flood forecast for this season was 8m bales.
Over 70% of jute growing areas have been submerged in water in Bangladesh.
Trade officials expect fibre prices to rise sharply in January.
- Floods start to recede in Bangladesh, FWi, 14 September, 1998
- Floods devastate harvest in Bangladesh, FWi, 25 August, 1998
- Financial Times 18/09/98 page 32