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Time of India
25-05-2025
- Business
- Time of India
Jute industry pins hope on June 3 ECJ meet amid supply crunch, soaring prices
(You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel 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 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 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 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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Business Standard
25-05-2025
- Business
- Business Standard
Jute industry eyes ECJ meet on June 3 amid tight supply, high prices
The Centre's Expert Committee on Jute (ECJ) is scheduled to convene in Kolkata on 3 June to evaluate the supply situation of raw jute and mesta, amid rising prices, delayed crop arrivals, and reduced availability that have strained the industry, PTI reported. Formed under the Ministry of Textiles, the committee will assess the 2024–25 supply-demand scenario and discuss the outlook for the 2025–26 crop of the golden fibre. Representatives from the Jute Division, National Jute Board, Ministry of Agriculture, and other stakeholders are expected to attend. While official figures indicate a comfortable position — with production estimated at 73 lakh bales, imports at 5 lakh bales, and a carryover stock of 23 lakh bales — actual market availability is reportedly tight, with mill officials attributing the shortage to hoarding. Industry consumption is pegged at around 70–72 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. Many mills, especially in North Bengal, are reportedly operating only four to five days a week due to escalating costs and raw material procurement issues, Kajaria said. Some owners have expressed difficulties in meeting wage and statutory obligations. The industry is hoping the ECJ meeting will lead to prompt interventions — including buffer stock release, measures to curb hoarding, and stricter enforcement of the MSP — to stabilise the market and ensure continued operations. (With PTI inputs)
Time of India
25-05-2025
- Business
- Time of India
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. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trading CFD dengan Teknologi dan Kecepatan Lebih Baik IC Markets Mendaftar 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. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
