Bangladesh bans raw jute exports

By DPA,

Dhaka: Bangladesh Tuesday slapped an export ban on raw jute to ensure smooth supply of the natural fibre for its local mills as the South Asian country predicted dwindling jute production this year.

---

Support TwoCircles

---

“The government will allow raw jute exports only after meeting local demands,” Jute and Textile Minister Abdul Latif Siddiqui told reporters.

Bangladesh usually exports around 40 percent of its total production of 4 million tonnes of raw jute while the remainder goes to 160 domestic jute and spinning mills.

Agriculturalists estimate that the country may suffer a production shortfall of 10 percent in 2009.