Minimum support price of jute increased by Rs 2,400 per quintal
Updated: Jan 03, 2014 02:59:09pm
New Delhi, Jan 3 (KNN) The Centre has announced hike in minimum support price (MSP) for raw jute by Rs 100 a quintal to Rs 2,400 for the 2014-15 season.
“The Cabinet Committee on Economic Affairs has approved the Minimum Support Price (MSP) for 2014-15 season for TD-5 grade of Jute at Rs.2400 per quintal for the entire country,” according to an official statement.
This is an increase of Rs.100 per quintal over the MSP announced by the Government for the last season, the statement added.
In order to incentivise farmers for production of higher grades, the premiums for TD-3 and TD-4 varieties will be maintained at 20 per cent and 8 per cent, respectively, in relation to the price of TD-5.
The Jute Corporation of India will continue to act as the nodal agency to for price support operations.
About 2.5 lakh workers were directly employed in the jute industry and 40 lakh farmers were involved in jute crop cultivation. In 2012-13, exports stood at Rs 2,094 crore. Jute mills are majorly located in West Bengal Andhra Pradesh, Assam, Odisha, Uttar Pradesh, Bihar, Tripura and Chhattisgarh. (KNN/SD)
“The Cabinet Committee on Economic Affairs has approved the Minimum Support Price (MSP) for 2014-15 season for TD-5 grade of Jute at Rs.2400 per quintal for the entire country,” according to an official statement.
This is an increase of Rs.100 per quintal over the MSP announced by the Government for the last season, the statement added.
In order to incentivise farmers for production of higher grades, the premiums for TD-3 and TD-4 varieties will be maintained at 20 per cent and 8 per cent, respectively, in relation to the price of TD-5.
The Jute Corporation of India will continue to act as the nodal agency to for price support operations.
About 2.5 lakh workers were directly employed in the jute industry and 40 lakh farmers were involved in jute crop cultivation. In 2012-13, exports stood at Rs 2,094 crore. Jute mills are majorly located in West Bengal Andhra Pradesh, Assam, Odisha, Uttar Pradesh, Bihar, Tripura and Chhattisgarh. (KNN/SD)
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