Jute price fall worries farmers

Jute price fall worries farmers in Lalmonirhat and Jessore despite bumper production of the cash crop.

The growers in Lalmonirhat are becoming frustrated due to sharp fall in jute price, reports our correspondent.

They are counting losses as jute is now being sold between Tk 1600 and Tk 1700 per maund, while its price was Tk 1900-2000 a week ago in the local markets, said the farmers.

Grower Nabin Islam, 50, of Shalmara village in Aditmari upazila, said he sold jute at Tk 1700 per maund this week while it was sold at Tk 2000 last year. 

With a hope of earning more profit, he cultivated the crop on eight bighas of land this time while it was five bighas last year, said another jute farmer, Aftab Uddin, 60, of Durakuti village in Sadar upazila.

"We are not earning profit from jute farming as per our expectation," he said.

Jute trader Abdul Karim, 45, at Durakuti Haat, a local market in Lalmonirhat Sadar, said they purchased jute at Tk 1900-2000 per maund from the growers a week ago due to lesser supply but its price now witnesses a fall due to huge supply.

The price of jute may fall between Tk 100 and Tk 200 per maund next week due to sharp increase of supply, he said.

Sarwar-Ul-Haque, deputy director of Department of Agriculture Extension (DAE) in Lalmonirhat, said jute cultivation is profitable for farmers as they earn extra profit from jute-stick and jute made sacks besides selling its fibre.

In Jessore, jute price sees unexpected fall in the local markets, much to the worry of farmers in the district, despite good production of the cash crop this season, reports a correspondent.

Last month, jute was sold between Tk 1900 and Tk 2000 per maund but its price now sees a sharp fall of Tk 400 to Tk 500 per maund before the arrival of new jute in the local market.

Md Sirazul Islam, a farmer of Ghurulia village in Sadar upazila, said he cultivated jute on two bighas of land this current season but its sharp price fall really worries him.

According to DAE in Jessore, 24,500 hectares of land have been brought under jute cultivation this year.