It is proud to announce that Bangladesh always holds its first position in producing jute in the whole world. Jute has been playing an important role in the economy of Bangladesh market for a long time. Almost 98% of jute is produced in this country.
That’s why the priority of the buyers and importers from all countries is Bangladeshi Jute Bag. The demand for Bangladeshi jute bags is increasing day by day. Not only for the eco-friendly environment, jute bags always has maintained its quality in the market. But do you have any idea about Jute bag price in Bangladesh Market?
Profit Margin in Jute Bags price in Bangladesh Market
Jute bag price in Bangladesh market varies from many perspectives. Normally 15kg shopping jute bag cost around BDT 60 to 68. The manufacturing cost of this bag is around BDT 25-38, but there would be no printing at all. The designer jute bag or the printing one is more expensive than the normal one.
Pricing challenges for jute bags sector
Giving fair prices to the farmers of jute producers and manufacturers of jute bags is a big challenge in the Bangladesh market nowadays. We need to ensure these fair prices, and for this, it would be better if the buyers or customers can get chances of direct purchases from the manufacturers.
And another challenge in this sector is that recognizing Jute Diversified Product (JDP) as a well-known agriculture product and which should be well maintained.
It is necessary to bring out the right appeal to the right kind of market to run a successful business. While pricing the jute bag, first, you need to capture the major requirements of manufacturing it. If you have enough knowledge about this sector, then it will help you to increase your business. You need to survey to have a better idea about the jute bag prices in the Bangladesh market.
How can Jute bags draw buyers’ attention?
It is essential to inform all the information about the jute bags to the buyers. Information we want to say is Bangladesh’s capacity and the variation of jute bag, which will draw the attention of the customers. But to ensure the international supply chain, Bangladesh needs to fix the pricing details of jute bags in the market.
For this reason, manufacturers and Export Promotion Bureau (EPB) need to take the lead to finalize the pricing for the domestic market along with the international market. Don’t forget that maintaining a relation between the domestic market and the international market will promote our jute bag in the Bangladesh market.
How can our manufactures be benefited?
It is needed to be ensured for the manufacturers that they can get the best prices through the jute bags for their survival. It is aware that Bangladesh meets at least 10% of local demands and 90% global demands yearly. In this sense, along with manufacturers, farmers will also get their benefits through this sector.
What should do Bangladesh in restoring for jute bags?
We know that our Bangladesh has started eco-friendly environment policy towards the domestic and globally destination. Among the total production Bangladesh market export jute products and raw materials around the world, and this makes Bangladesh second-highest raw jute producers after India.
As we know, jute has come up with diversified products, and among them, jute bags have created a great opportunity in the Bangladesh market. And now it is the time for the entrepreneurs to believe our government to ensure them that with low-investment, Bangladesh can achieve the highest opportunity. And lastly, jute bags need a plan with long, medium- and short-term opportunities.
Jute Bags Price Planning
When jute bags have started their business in Bangladesh in a professional way, they consider many things to make it successful. Their first priority was the quality of the products. While pricing the jute bags, it should be asked that either their quality is efficient enough to bring that in the market or not. In that, there are some steps which should be followed. And the steps are:
Get Enough training:
As we have mentioned earlier, that quality is the first priority of making this product. To maintain this quality worker and another related person should be well trained. Then you can put the exact market price of your jute bags.
This step is considered as the stepping stone of your pricing method. In the Bangladesh market, while giving investment ideas, they first think that the proper investment should be prepared in such a way that it will prevent to happen any loss.
Price may vary by choosing the business location of jute bags. Suppose the place is convenient for the customers and on the other hand that place is costly for you also then the price might be increased for the customers. In the sense jute bags don’t compare the large-scale market, they always start with a smaller market, and that why they prefer to keep a reasonable price always in the Bangladesh market.
In Bangladesh, the legal aspects have proved enough attention. Proper paperwork in a detailed way is done in such a way so that there cannot be any pricing issue further. If it is necessary to market, take permission from the Bangladesh government with a registered price along with the national business guide. So, the Bangladesh jute market keeps the legal documents clear and transparent.
In the Bangladesh market, jute bags are always considered as the alternative product of plastic bags though jute has grown its business line around the world, which is natural. Bangladesh exports jute products and earned a considerable amount of foreign currency.
It is time to look into more value addition for the jute bag so that the jute bag prince in the Bangladesh market can be fair enough. For this reason, manufacturers should come up with more innovation for jute bags in the market. Through this, along with the Bangladesh market, globally, the demand for jute bags will increase.