Jute Market - India Ranks First Globally in Exports of Jute & Jute-Like Fiber despite 5% Drop in 2014

Fibre Crops September 30, 2015
Author: Alexander Romanenko
Chief Executive Officer

jute market

India dominates in the global trade of jute and jute-like fiber. In 2014, India exported 31 thousand tonnes of jute and jute-like fibers totaling 101 million USD, 5% under the previous year. Its primary trading partner on the global jute market was the U.S., where it supplied 20% of its total exports of jute and jute-like fiber in value terms, accounting for 44% of the U.S. total imports.

From 2007 to 2014, India was a net exporter of jute and jute-like fibers. Over this period, exports consistently exceeded imports in value terms. However, in physical terms, imports exceeded exports.

The United Republic of Tanzania and China were among the other main global suppliers of jute and jute-like fibers in 2014. However, the fastest growing exporters from 2007 to 2014 were the United Republic of Tanzania (+74% per year) and Spain (+24% per year). The United Republic of Tanzania significantly strengthened its position in the global export structure.

In 2014, India's top 5 trading partners were the U.S., Nepal, the Netherlands, Germany and Egypt, with a combined 54% share of India's jute and jute-like fiber exports. The share of Nepal increased (+8 percentage points), while the share of Egypt illustrated negative dynamics (-6 percentage points). The shares of the other India's trading partners showed moderate growth.

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Source: World: Jute & Jute-Like Fibers - Market Report. Analysis And Forecast To 2020