Jute industry pins hope on June 3 ECJ meet amid supply crunch, soaring prices
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The Centre's Expert Committee on Jute (ECJ) will meet in Kolkata on June 3 to review the raw jute and mesta supply situation , even as the industry struggles with high prices, delayed crop arrivals, and low availability. The committee, under the Ministry of Textiles , will assess the 2024-25 supply-demand scenario and discuss the outlook for the 2025-26 crop of the golden fibre. Officials from the Jute division, National Jute Board, Agriculture Ministry and other stakeholders will attend the meeting.Though official estimates suggest sufficient availability with 73 lakh bales of production, 5 lakh bales of imports, and 23 lakh bales of carryover stock, actual supplies remain tight due to hoarding, jute mill officials said. Consumption stands at around 70 to 72 lakh bales."A delayed monsoon in key jute-growing areas like Murshidabad, Nadia, and Goalpara has pushed back sowing, and fresh arrivals may not come before September. This could cause a supply gap in July and August. Prices have already shot up to Rs 6,800-7,200 per quintal, much higher than the MSP of Rs 5,650," former Indian Jute Mills Association chairman Sanjay Kajaria said.Despite this, the Jute Commissioner's Office (JCO) has failed to activate any buffer release mechanism or take action against hoarding and speculative withholding, jute mills complained. Mills, particularly in North Bengal, are running only 4 to 5 days a week due to rising input costs and procurement challenges, Kajaria said. A mill owner said that they are struggling to pay wages and meet statutory dues.The industry is looking to the ECJ meeting for urgent steps such as buffer stock release, action against hoarding, and strict MSP enforcement to stabilise the market.
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