Jute industry grappled with poor demand, 'subdued' prices in 2024

The jute industry faced a nearly "30% reduction in demand" for food grains and sugar packaging bags, resulting in trimmed working hours in mills in 2024, while subdued prices for the finished product and the raw material affected both millers and farmers, stakeholders said.

- Press Trust of India

KOLKATA:

The non-implementation of the revised formula for the pricing of finished jute goods supplied to the government remains a "pressing concern" for mill owners as the existing price mechanism is "old and outdated" and has led to "reduced profitability", they said.

Although the government has decided to revise the pricing formula, details are still awaited, according to the Indian Jute Mills Association (IJMA).