[[1]] jute farmers bemoaned the fact that they did not benefit from the trading or lending of jute

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Bengali jute farmers bemoaned the fact that they did not benefit from the trading or lending of jute; instead, it was the traders and moneylenders who reaped the rewards. Bengali peasants raised raw jute, processed it in factories and exported it as gunny bags. They raised raw jute in the hopes that the economy would improve and exports would rise. However, this did not occur because the depression caused a collapse in gun exports. Moreover, they became deeply in debt due to the local market's oversupply, which caused the price of raw jute to fall by more than 60%. Therefore, farmers did not benefit from jute production; traders and moneylenders did.

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