Jute farmers in Faridpur are unhappy over declining prices of their crop. Despite rise in cultivation costs, the farmers are getting lower prices for their golden fibre compared to what they were receiving in the previous year.
Last year, they sold each maund of jute fibre for Tk3, 000 to Tk4,000 which is being sold for Tk2, 300 to Tk2, 500 this year.
Traders on the other hand attribute the prices to excessive production.
According to data collected from the Department of Agricultural Extension farmers increased jute acreage by 2% to 7.45 lakh hectares in the current season, up from 7.29 lakh hectares previously.
Millers, however, attributed the decline in prices to lower demand of jute and jute products abroad due to Ukraine-Russia war.
Mirajul Islam, a farmer from Krishnapur union, said: “We manage to yield about 15 maunds of jute from each bigha of land at a cost of Tk18, 000 to Tk20, 000. Under current prices, farmers will switch to other crops out of frustration.”
Abul Kalam, a farmer from Bhashanchar, said: “This year cultivation expenses have gone higher. On the other hand, the market price is considerably lower. Dishonest traders are stockpiling jute through syndicates.”
A Samad, a trader from Krishnapur Bazar, said: "Currently, we are purchasing jute from farmers at Tk22, 00 to Tk23, 00 per maund. The jute prices have dropped due to excessive production. "
Nitul Roy, upazila agriculture officer, said: “This year, jute was cultivated on 7, 115 hectares of land in the upazila while the target was to cultivate on 6, 760 hectres. The production cost went up due to insufficient rainfall and higher prices of fertilizers and fuel. The market price is also slightly lower compared to last year.”