Adverse weather has cut yields, while export restrictions have weakened demand

Adverse weather has reduced jute yields this year, while export restrictions have weakened demand and pushed down prices, raising fears of losses among farmers.Farmers said they expanded jute acreage after receiving good prices last year. However, excessive rainfall forced many to harvest the crop earlier than usual, resulting in lower yields.Traditionally, lower supply supports higher prices, but farmers and traders said the suspension of raw jute exports to India had reduced demand in the local market.Prices of good-quality raw jute have fallen by around Tk 1,200 per maund over the past one-and-a-half months. Rising production costs have further squeezed farmers.