INDIA DELAYS JUTE COMPULSORY USE SCHEME BECAUSE OF OVERSUPPLY FEARS
August 1st, 2013
AN EXCESS supply of jute bags in India has prompted the government to delay an annual decision on ordering the food grain and sugar industry to use sacks made of jute, and the jute sector is warning this could cause a market glut.“The demand for jute bags in the current session has gone down drastically and unless we are at a higher level of reservation our supply will not adequately be covered by the reserve sector,” said Raghavendra Gupta, chairman of the Indian Jute Mills Association told WTiN.com.For the year ending in June 2013, the government ordered ...
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