Kolkata, Feb 9 (PTI) Jute mills on Monday expressed hope for a resolution of the ongoing raw jute crisis following a meeting with Union Textiles Minister Giriraj Singh.

Sources in the Indian Jute Mills Association (IJMA) said the minister assured the delegation that he would look into their recommendations.

The meeting, held on Sunday at the Central Research Institute for Jute and Allied Fibres (CRIJAF), saw the IJMA reiterate its time-bound emergency proposal earlier submitted to the Jute Commissioner’s Office (JCO).

The association sought a reduction of raw jute stock limits for traders to zero by March 31, proposing that all available stocks be compulsorily liquidated to operating mills or tendered to the Jute Corporation of India (JCI).

The delegation informed the minister that despite adequate crop estimates, 25-30 lakh bales of raw jute remain withheld with traders and intermediaries.

This artificial scarcity has driven prices to an unprecedented Rs 13,000 per quintal, forcing mill closures and putting nearly one lakh workers at immediate risk.

According to sources, the ministry is inclined to adopt "extraordinary, time-bound regulatory intervention" rather than routine market responses to address the supply-side distortion.

"We are grateful to the Union minister for giving a patient hearing to the concerns of the jute industry. We have placed the ground realities regarding fibre availability and market distortion, and we remain fully committed to working with the government, JCO and JCI to support any measures required to stabilise the sector and protect farmers, workers and the national supply chain," said former IJMA chairman Sanjay Kajaria, who was present at the meeting.

He said the minister also enquired about the present status of raw jute seed exports and indicated that the matter would be examined urgently given its implications for the forthcoming sowing season.

He further stated that the ministry is preparing to take strict action against speculators and will shortly brief the media on the corrective steps under consideration to ensure uninterrupted availability of jute bags for the RMS 2026-27 season. PTI BSM MNB