Floods Damage Indian Jute Crop
Floods Damage Indian Jute Crop
This years raw jute production is likely to decline by 30 percent because vast areas of
cultivated lands in eastern India the main jute-producing region, especially northern Bengal and
Assam have been flooded.For the year, raw jute yield is expected to be 7.5 million to 8 million
bales, compared to 9.8 million bales in the previous two years. Industry experts have, however,
ruled out any supply shortage because of the huge inventory in excess of 2.5 million bales of
raw jute stocks from previous years. However, there is a strong possibility that the price of the
fiber will be higher this year.The hike in price will likely be noticed in December or January
2004, industry experts say.According to the India-based Jute Balers Association, consumption of
jute fibers has increased from about 9.8 million bales in 2001-02 to 10.4 million bales in 2002-03.
Fall 2003