Sudden jute price fall upsets growers

The sudden price fall of jute in the local markets disappoints the farmers of Sharsha and Jhikargacha upazilas under Jessore district.

This year many farmers cultivated jute with the hope of getting high price for the cash crop that would help them recover the losses they earlier incurred due to damage of other crops by heavy rain.

But the unexpected price fall has come as a blow to them.

Farmers in Sharsha and Jhikargacha upazilas cultivated jute on 5,700  hectares and 3,850 hectares of land this year against the targets of 4,600 hectares and 4,885 hectares respectively, said sources at the Department of Agriculture Extension.

This season's average yield is 11 maunds of jute per bigha in the two bordering upazilas. 

Local farmers said earlier they had sold jute at Tk 1,800 to Tk 2,000 per maund (40 kg) but they are now selling it at Tk 1,500 to Tk 1,600.

The price of jute sticks has also fallen, they added.

"I cultivated jute on three bighas of land and the cultivation cost stood at about Tk 20 thousand per bigha. Now I fear losses due to the price fall," said Bablur Rahman of Khatbaria in Jhikargacha.

Aminul Islam Khokon, a jute seller at Chalitabaria market, said the buyers are offering lower prices than that of last year and the number of buyers sees gradual decrease as most of the buyers have formed a syndicate.

Hirok Kumar Sarkar, Sharsha upazila agriculture officer, said, "The price fall in the local markets is a temporary matter. Farmers will hopefully get expected price of the cash crop soon."