Summary:
Kolkata, Jun 27 (PTI) Raw jute supply in the upcoming 2022-23 season beginning July 1 is likely to be 18 per cent higher than last year, as per the first conservative estimate by an expert committee.
The committee, which has representation of the government, the industry and other stakeholders, said the total raw supply in the system is estimated to be 117 lakh bales, including an opening balance of 19 lakh bales.
The panel would also hold meetings in September-October for an overview of the raw jute situation, industry sources said.
The production of raw jute (jute and mesta) is pegged at 95 lakh bales in 2022-23, while consumption is projected to be 70 lakh bales during the new season.
In 2021-22, consumption was around 66 lakh bales.
According to the first conservative estimate, jute import is pegged at 3 lakh bales in the new season as against 4 lakh bales in 2021-22.
The closing stock in the 2022-23 season is expected to be much higher at 33 lakh bales, it said.
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