The peasants of Bengal cultivated ____ which was processed in factories for export in the form of gunny bags.

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The peasants of Bengal cultivated Raw jute which was processed in factories for export in the form of gunny bags. Bengali people grew raw jute, processed it in factories and exported it as gunny bags. They grew natural jute in expectation of expanded opportunities and higher exports. However, due to a drop in gunny exports caused by the downturn, this did not occur. They became significantly indebted due to the oversupply in the local market, which led the price of raw jute to fall by more than 60%. So, rather than farmers, the biggest winners of jute growing were traders and moneylenders. Peasants suffered more casualties than city dwellers.

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