Neoliberal economic measures will further impoverish the working class and poor masses and must be opposed. Jute Market Report for April 2020-3/9-1st May 2020 Latest news: Seed shortage to affect jute production this year and in order to compensate the loss, the government wants jute growers to produce food so the country can cope with an upcoming period of uncertainty. The World Bank demands that Bangladesh opens its economy to further workersâ exploitation in return for loans. TWEET. JUTE, SUGAR INDUSTRIES Looting causes loss in Bangladesh jute, sugar industries: academics . SHARE. COVID19: Case numbers in India mounting up to more than 3,76 Mio with a more or less continuous upward trend. We call on the government of Bangladesh to reverse its decision to close the historic state-owned Jute Mills. JUTE EXPORTS JUMP According to the export earnings update put out by the Export Promotion Bureau, or EPB, on Sunday, Bangladesh earned Tk 307,550,000 from jute and jute product exports in the first quarter (July-September) of the current 2020-21 fiscal year. From 2007 to 2018, the most notable rate of growth in terms of jute production, amongst the main producing countries, was attained by Bangladesh. SHARE. Bangladesh has a long tradition of jute cultivation and production. Export earnings from jute and jute goods soared 37 per cent year-on-year to $553 million in fiscal 2020-21. In July 2020, the government of Bangladesh has announced to shut down all 25 state-owned jute mills due to huge amounts of recurring losses year after year. The countries with the highest volumes of jute production in 2018 were India (2.1M tons) and Bangladesh (1.6M tons), with a combined 93% share of global production. In 2020-21 the total target of earning by exporting jute and its product is worth $1.16 billion. Meanwhile, demand for raw jute and jute goods has increased in the world. EMAIL. Bangladesh has a long tradition of jute cultivation and production. From 100kg of sugarcane, India or Brazil can produce 12-14kg of sugar, but in Bangladesh it is almost half. There is a huge demand of Bangladesh jute and jute goods in 60 counties. In the fiscal year 2019-20, the total export of jute and its items is worth 88 crores 23 lakh 50 thousand dollars. In the first month of new FY 2020-21, the country earned 5.44 percent more foreign income through exporting jute and jute products. From 2010 to 2019, the Government has given about 7.5 billion takas to BJMC but it has not been able to turn profits. from those Jute yarn alone earns 56 crores 46 lakh dollars and it is about 64% of the total export of jute. As a result, sugar production is low per tonne in Bangladesh." 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