Recently, officials from the Bangladesh Ministry of Commerce pointed out that Bangladesh plans to fight back against Brazil’s imposition of anti-dumping duties on its jute yarn. Since August 2008, Brazil has imposed an anti-dumping duty of US$0.16 per kilogram on jute yarn produced in Bangladesh for a period of five years. But Bangladesh’s jute industry pointed out that they are more concerned about the economic recession than anti-dumping duties. It is reported that the world economic recession has had a significant impact on Bangladesh’s jute industry. In recent months, exports have dropped by 12%, production has been cut by 30%, three factories have closed, and at least 25,000 people have lost their jobs.
Jute yarn accounts for 64% of Bangladesh’s jute product exports. In fiscal 2008, Bangladesh had 59 textile mills exporting $318 million in jute products.
