CommoditiesFlooding pushes up price of raw jute
18 September 1998
Commodities
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
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