Jute industry eyes June 3 ECJ meet for relief amid supply crunch and soaring prices
The jute industry is pinning its hopes on the upcoming Expert Committee on Jute (ECJ) meeting, scheduled for June 3 in Kolkata, as it grapples with high raw jute prices, delayed crop arrivals, and tight supply conditions.
The ECJ, under the Ministry of Textiles, will review the raw jute and mesta supply-demand situation for 2024–25 and also assess prospects for the 2025–26 crop. The meeting will bring together officials from the Jute Division, National Jute Board, Ministry of Agriculture, and other key stakeholders.
While official estimates suggest there should be adequate availability—73 lakh bales of production, 5 lakh bales of imports, and 23 lakh bales of carryover stock—industry sources claim actual supplies are tight, largely due to hoarding.
Jute mill officials said current annual consumption stands at approximately 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,' said Sanjay Kajaria, former chairman of the Indian Jute Mills Association, quoted PTI.
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Despite rising concerns, industry players allege that the Jute Commissioner's Office (JCO) has failed to implement a buffer stock release or take measures against hoarding and speculative withholding of raw jute. Mills, particularly in North Bengal, are facing operational strain, with many running only 4 to 5 days a week due to procurement challenges and escalating input costs.
A mill owner, requesting anonymity, said that the situation has become so severe that they are struggling to pay wages and meet statutory obligations.
The jute sector is looking to the ECJ meeting for concrete interventions, including the release of buffer stocks, strict action against hoarding, and effective enforcement of the Minimum Support Price (MSP) to stabilise market conditions.
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