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Tuesday, July 23, 2024

Jute MSP raised by Rs 285 per quintal


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Kolkata: The Central government has increased jute minimum support price (MSP) by Rs 285 to Rs 5,335 per quintal for 2024–25 from Rs 5,050 (last year), Jute Corporation of India (JCI) managing director Ajay Kumar Jolly announced on Tuesday.

“The government of India has declared TD3 (middle grade quality of jute) basis MSP rate is Rs 5,335 per quintal, and the office of the jute commissioner has announced variety- and grade-wise MSP rates for the crop year 2024-25 (July 24 to June 25) with effect from July 1, 2024,” a JCI statement said.

This year, JCI has procured over 13.15 lakh quintals of raw jute for Rs 616.70 crore directly from farmers, Jolly said.

“The MSP purchase is continuing to help the farmers and is already the highest purchase level in a year over the period of the last 20 years,” the JCI MD said, adding that the Corporation has 110 buying centres where farmers can visit and sell directly.

Last year, around 90 lakh bales of jute were produced in India, of which 60 to 70 percent was contributed by West Bengal. One bale is 180 kgs of raw jute, said JCI jute commissioner Moloy Chandra Chakraborty.

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