Jute farmers in Rajshahi are in distress after market prices suddenly dropped, despite receiving good prices at the beginning of the season. At Naohata jute market in Poba upazila, the price of jute has fallen by approximately BDT 800 to 1,000 per maund within two weeks. Farmers are now worried about recovering their production costs and achieving their desired profit.
Farmers from surrounding areas flocked to Naohata market with jute on Monday and Thursday mornings. Freshly cut and processed jute was brought in by vans, Nosimons, and Bhatbhatis. However, many farmers are returning home without selling their jute as they are not getting the expected prices in the market.
According to market officials, just two weeks ago, jute was selling for BDT 4,000 to 4,500 per maund, depending on its quality. Currently, the price for the same quality jute has dropped to approximately BDT 3,200 to 3,500. Consequently, farmers’ income per maund of jute has significantly decreased in a short period.
Saiful Islam, a farmer from Padma Char area in Poba upazila, brought 65 maunds of jute to the market this time. Previously, he had sold jute of the same quality for BDT 4,000 per maund. Expressing frustration over the current market price, he said, “The price I’m being offered now is much lower than what I sold jute for just a few days ago. Cultivation costs have increased, but if jute prices drop like this, farmers won’t make any profit.”
Babu, a farmer from Darusha area, is facing the same situation. He brought approximately 149 kg of jute to Naohata market and was offered BDT 3,400 per maund by traders. As he did not get the desired price, he took his jute back home without selling it. He stated that he had sold jute for BDT 4,000 per maund last time and hoped for a similar price this time. However, fearing losses due to the low prices offered by traders, he refrained from selling. He has more jute at home and will bring it to the market if prices improve slightly.
Salman Ali, a farmer from Keshorhat area in Mohanpur, also took his jute back for the same reason. He brought four and a half maunds of good quality jute to the market, expecting BDT 4,000 per maund. However, as traders offered a maximum of BDT 3,500, he returned without selling.
Farmers complain that a certain class of traders are trying to buy jute at low prices, taking advantage of the arrival of new jute in the market. This leaves farmers with very little profit compared to their production costs and labor. They also fear that prices will fall further if supply increases in the middle of the season. However, traders state that the main reason for the market price drop is increased supply. Milan Ali, a jute trader from Naohata, said, “In mid-July, the supply of jute in the market was low, so we had to buy it at higher prices. Now, with new jute entering the market, supply has increased. Naturally, prices have decreased slightly. Many traders also have stock of jute bought at previous higher prices.”
Amal Das, the leaseholder of Naohata jute market, stated that jute is bought and sold at the market every Monday and Thursday, from dawn until 8 AM. Approximately 2,000 maunds of jute are traded in each market session on average. Currently, jute prices range from BDT 3,200 to 3,500, depending on quality. Nadim Akter, Assistant Director of the Jute Department in Rajshahi, said that jute prices primarily depend on market demand and supply. Currently, no specific purchase price for jute is set by the government. The presence of several jute mills in the Naohata area also influences local market prices based on the quantity of jute these mills purchase. When mills buy more jute, demand increases; when they buy less, it impacts the market.
He further informed that Rajshahi is expected to produce approximately 381,696 quintals of jute this year. Last year, the production was 360,494 quintals. This means production could increase by about 21,202 quintals this year. Mohammad Nasir Uddin, Deputy Director of the Rajshahi Department of Agricultural Extension, stated that jute has been cultivated on 18,399 hectares of land in the district this season. Last year, cultivation was on 17,305 hectares. Cultivation has increased by 1,094 hectares in one year. Farmers who cultivated early varieties of jute received good prices. However, when a large quantity of jute enters the market simultaneously, prices tend to fall due to increased supply.
With good yields, jute farmers had hoped for a return to comfort this season. However, these hopes have been dashed by the price drop encountered at the market. Farmers are now demanding that a fair market price for jute be ensured, considering their production costs, so that they do not face losses despite a good harvest.
