Govt limits jute stockpiling

The Ministry of Textiles and Jute has issued a circular stating that no company or individual will be allowed to stockpile more than 1,000 maunds of jute for more than one month.

The move comes in a bid to ensure an adequate supply of raw jute and calm internal market situation amid the current harvesting season.

No unlicensed company or individual will be allowed to deal in jute, the circular said.

Besides, mobile courts will conduct drives at the district and upazila levels to help local administrations monitor production activities so that no one can blend sand or water with the jute, it added.

SM Arshad Imam, director of the Department of Jute, said they issued this circular as a precautionary measure to prevent a repeat of last year's unexpected incident.

"Keeping last year's unwanted situation in mind, we have taken a precautionary measure so that the market of jute is not unsteady this time around," he added.

Imam went on to say that they have already instructed the concerned parties in this regard so that no one can illegally hoard jute.

"After purchasing a specific amount of jute, it can go to the specific place it should go," he said.