Jute prices have slipped over the last month by around Rs 3,000 per tonne in hessian and sacking due to lack of demand.
Industry sources said, sacking prices were hovering around Rs 20,000 per tonne while hessian prices were around Rs 27,000 per tonne, which was around Rs 3,000 down from the prices in the last month.
The drop in prices was largely due to lack of demand. No further buying from government was expected in September and October. In many parts of the country prices were hovering below the minimum support level.
Moreover, the jute strike in the state had worsened the situation. Nine mills were under lock out due to the strike. West Bengal had around 59 jute mills.
Meanwhile, the Jute Packaging Materials Act (JPMA) case would be heard in the Supreme Court on August 29.
The central government filed an appeal against the High Court order last week. The High Court had ordered 100 per cent jute bags for foodgrains and 90 per cent for sugar.
