No crisis in quality jute seeds this season: adviser

There will be no shortage of quality jute seeds this season, as measures have been taken to resolve the crisis, said Sk Bashir Uddin, adviser to the aviation, textile, and commerce ministries.

He shared this information during a meeting with the leaders of the Bangladesh Jute Spinners Association at the commerce ministry today.

Illegal stockpiling has destabilised the market as many individuals have hoarded the fibre to take export advantage, causing daily rises in jute prices, businesses informed the adviser.

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But it is not the farmers but the stockpilers who are benefiting from this price hike, causing disorder in the jute market, they said.

If illegal stockpiling is not addressed, it will harm both genuine jute farmers and everyone involved in the trade, they added.

During the meeting, the leaders urged the government to take swift action to stop jute hoarding.

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The adviser said the government will adopt a zero-tolerance policy toward illegal stockpiling of jute, and legal measures will soon be implemented in four major jute-producing districts to curb the practice.