India to export raw jute to arrest price fall
India is to export raw jute this season. The move is in a bid to stop any further fall in prices in the home market. A bumper Indian crop for the second consecutive year has caused a price collapse.
The 1997-1998 crop is estimated at 10m bales of 180kg (3971b) each compared with 10.2m bales last year.
Export depends on the government sanctioning an export subsidy. The emergence of China as a big importer of raw jute will help Bangladesh and India.