Jute price fall upsets Bogra farmers

The sudden fall in the price of jute in the local markets has disappointed the farmers of Bogra and may discourage them from cultivating the golden fibre.

They were hopeful of getting high price for jute this year to recover the loss they incurred due to damage to other crops by the flood.

Department of Agriculture Extension (DAE) sources said 15,665 hectares of land were taken under jute cultivation this year though the target was 15,781 hectares and production target was 1.73 lakh bales. Over 60,000 bales have been harvested so far and farmers hope the yield would be over one lakh bales.

Local farmers said they had sold jute at Tk 1,800 to Tk 2,200 per maund initially what they are now selling at Tk 1,300 to Tk 1,500. The price of jute sticks has also fallen, they added.

Talebur Rahman, jute cultivator of Char Bati in Sadar upazila, said he cultivated jute on three bighas of land and might suffer loss.

Mozahar Ali, jute seller at Shariakandi jute market, said the buyers are paying lower prices than that of last year last season and the number of buyers is decreasing as most of them have formed a syndicate.

Shariakandi Upazila Agriculture Officer Md Kamruzzaman said flood affected farmers reaped the jute and brought it to the market at the same time, causing a temporary price fall due to supply more than the demand. The farmers would get expected price soon, he hoped.