2024 18:46 , Mar . 07 Back to list

Jute Market Report for January 2024

Raw Jute: During the month under review, raw jute demand from India as well as from Pakistan was on a regular level. Indian buyers were observing the market for BTR NB CS, BTR NB KS and BTR BS SMR, as well as BTCB jute cuttings. In total Indian buyers were placing orders of about 3.000 mtons during the month under review. Pakistan was in the market for various long Jute Tossa grades and long Meshta grades and Tossa cuttings like BTCA and BTCB as well as Meshta cuttings SMC and OMC and placed orders of about 3.500 mtons, in total.

Nepal was in the market for long Jute Tossa grades BTR HD, BTR KS, BTR CS, as well as BTR BS. In total, Nepal placed order of about 2.000 mtons. Export demand from other international buyers from importing countries like China, Vietnam, Russia and Tunisia was on a regular level as well during the month under review.

Local demand from jute yarn and twine spinning mills, composite jute mills as well as raw jute processors for both high and low quality raw jute was on a normal level, too. In view of the increased demand, export prices for higher quality grades of raw jute fibre increased further by USD 50,00 per mton, prices for lower quality grades increased by USD 30,00 per mton during the month under review.

Raw jute exports from July 2023 to August 2023 (fiscal year 2023-2024) were 241.911 bales against 116.282 bales during July in the year 2022.

Jute Yarn and Twine: Export demand for both low and high quality grade jute yarns and twines from markets such as Turkey and Iran returned to a regular level during the month under review. Same applies for export demand for low and high quality grade jute yarns and twines from other international markets such as India, China, Vietnam, Indonesia, Malaysia, Uzbekistan and countries of the Middle East. However, buyers from Europe and the United States of America were in market, but less orders were placed especially during the first half of the month under review due to festive season. Since mid of January, US and European demand picked up, despite sharp increases of sea freight rates, caused by the continuous attacks on vessels in the Red Sea.

Xingtai Shuoding Trading Co., Ltd can be your reliable partner in China to supply jute sack,jute fabric and jute rope.

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