Last Updated : 07 September 2012 at 11:50 IST
India Raw Jute production may drop by 12 % in 2012-13
Lower acreage and delayed monsoon in India resulted in the fall raw jute of output by 12 per cent to 95 lakh bales in 2012-13 crop year. Over the last few years jute cultivation area has remained constant at about 9 lakh hectares in India.
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NEW DELHI(Commodity Online): Raw jute production in India may drop by 12 per cent to 95 lakh bales in 2012-13 crop year. Lower acreage and delayed monsoon has resulted in the shrink of output. The sowing of crop was also 10 percent lower in 2012 compared with last year.
India has produced close to 108 lakh bales of jute in the last fiscal. Over the last few years jute cultivation area has remained constant at about 9 lakh hectares in India.
“There has been a slight fall in the acreage . This is mainly because farmers have been sowing other crops despite the high minimum support price for the current crop year,” says Manish Poddar, Chairman, Indian Jute Mills’ Association to Business Line.
There will be no deficiency in supply of raw jute despite the estimated drop in production as there is a carryover stock of around 31 lakh bales and an import of about 8 lakh bales from Bangladesh in this season.
The Government of India has announced an MSP for raw jute at Rs 2,200 a quintal for the TD-5 variety of jute ex-Assam for the 2012-13 crop year. This was almost 31 per cent higher than last year.
The total consumption of jute is close to 105 lakh bales, of which mill consumption stands at about 95 lakh bales and the country’s consumption is close to 10 lakh bales.
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