The Hindu Business Line : Raw jute prices rule steady

Kolkata, Dec 17 Prices of raw jute have been more or less stagnant, and the raw jute trade here does not foresee an abrupt change in the price of the fibre in the near future. The benchmark TD4 grade of South Bengal jute was quoted at the Jute Balers’ Association (JBA) here at Rs 1,140 per quintal in the beginning of the current jute year in July this year.

It moved up marginally to Rs 1,155 on July 31, and went up further to Rs 1,270 on August 14. O

n August 20, the TD4 grade raw jute found takers at Rs 1,330 per quintal before losing ground and being quoted at Rs 1,295 on August 31. Lately, it is being quoted at around Rs 1,200.

Today, the TD4 grade was quoted at Rs 1,190 per quintal at JBA.

Carry forward stock

The current jute year began with a carry forward stock of 24 lakh bales.

The 2007-08 jute crop has been estimated to be around 95 lakh bales. An additional five lakh bales have been imported from Bangladesh.

With raw jute consumption by the mills sector and others during the year pegged at 100 lakh bales, the industry expects to begin the next jute year beginning July 2008 with a carry forward stock of around 24 lakh bales. The sources said that the price of raw jute was unlikely to witness any marked change as it happened last year and the year before.

This, despite the fact that Jute Corporation of India (JCI) has been operating in the market and two commodity exchanges were also engaged in online trading in raw jute.