THE WILL TO BALE THEM OUT
Article Abstract:
The jute industry in India is likely to face a major crisis due to the rise in wage costs and the fall in demand for jute goods. It also faces the threat of dumping from Bangladesh. The recent wage hike accounts for about 40 percent of production cost. There is no corresponding increase in productivity. The demand for jute goods in India has fallen due to the exemption of the cement industry from the mandatory jute packaging order. Departmental purchasers are expected to buy only 4 lakh bales of jute in 1998-99 as against 6 lakh bales in 1997-98. Demand for jute in the international market has remained stagnant at about 9 lakh tonnes. Exports of jute goods from India fell by over 33 percent in terms of both volume and value at 1.27 lakh tonnes and Rs355 crore during April-October 1998. Only, the Government of India can help the jute industry fare better. (uh/kvr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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NCDC TO GIVE COMARK Rs2 CR MARGIN MONEY
Article Abstract:
The Indian Coffee Marketing Co-operative Limited (Comark) of Hassan will get a margin money assistance of Rs2 crore from the National Co-operative Development Corporation (NCDC). NCDC has been directed by the Government of Karnataka to provide financial assistance to Comark. Comark is likely to receive funds before the end of March 1999. It intends to target domestic market for selling coffee. Comark hopes to procure about 10,000 tonnes of raw coffee during 1998-99 season. (gs)(vr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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