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Jute acreage has also been increasing over the years due to favourable climate conditions and high yields of jute in the country.
The production of the most affordable natural fibre rose from over 42 lakh bales in 1971-72 to over 80 lakh bales in FY 2019-20.Farmers cultivated Jute on 7.27 lakh hector of land in 2020-21 FY and produced 72.86 lakh tonnes of Jute, according to the Department of Agricultural Extension (DAE) data.
In the local market, jute price soared to Tk 5,500 to 6,000 per maund recently from Tk 2,600 to 3,000 per maund in 2020 and Tk 1500-2000 in 2016 at markets in the country.
A total of 80.45 lakh bales of jute was produced from 6.79 lakh hectors of land in FY 2019-20; 85.76 lakh bales from 7.49 lakh hectors of land in FY 2018-19; 88.94 lakh bales from 7.58 lakh hectors in FY 2017-18; 82.46 lakh bales from 7.37 lakh hectors of land in FY 2016-17; 75.58 lakh bales from 6.77 lakh hectors of land in FY 2015-16; 75.01 lakh bales from 6.73 lakh hectors of land in FY 2014-15 and 74.36 lakh bales of jute were produced from jute farming on 6.66 lakh hectors in FY 2013-14, according to BBS data.
DAE Field Service Wing director AKM Monirul Alam told the Daily Sun that as farmers are getting higher prices, they will cultivate jute on more lands this year.
He said they are supporting the import of higher quality Jute seed from India so that farmers to help increase production.
Higher demand for raw jute in both local and international markets have skyrocketed the price of jute in the country.Aminur Rahman, a farmer from Kushtia, said after facing losses for many years, he started making profits from jute from last year.
Jute price was Tk 800-900 per mound in 2010, Tk 1000-1250 in 2011-12, Tk 1300-1400 per mound in 2013, Tk 1400-1450 per mound in 2014 and Tk 1800 per mound in 2015, according to market sources.
