18 September 1998
Commodities
  • Flooding pushes up price of raw jute

    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.