Jute Trade
The main jute production is centered in Indian subcontinent and is traded all over the world. The top ten jute producing countries are India, Bangladesh, China, Côte d'Ivoire, Thailand, Myanmar, Brazil, Uzbekistan, Nepal and Vietnam. Amongst the top ten, Bangladesh leads the export of raw jute whereas, India the largest producer and consumer of jute items. In both the countries, the local jute price is similar to the prevailing international rate. 75% of the jute fiber is consumed in manufacturing sacks, burlaps and packaging materials. The demand of the jute is derived from the growth of the industrial segment where jute is being consumed in large quantity. Increase in production and export of agro industrial commodities led to consumption and demand of more jute sacks and packing bags.
Jute as carpet backing cloth is gaining momentum amongst the manufacturers. 15% of jute production across the world is being consumed as backing cloth. The remaining 85% is divided for using in different segments like twine, ropes, decorative fabrics, carpet yarn, cordage, padding and other miscellaneous items.
Apart from weaving industries, recently jute is being used in non weaving industrial segment as well. The availability and the cost factor is the main reason for its demand in non weaving industries. Amazingly, jute has made its way to automobile sector for fabricating the interior.
Popular Jute Traders
- East India company
- Dundee Jute Barons
- Pakistani Jute Families – Example : Bawanis, Adamjees, Ispahanis and Dauds
- The Marwaris
- Bangladeshi Jute Traders