INSUBCONTINENT EXCLUSIVE:
Government hikes MSP of raw jute Rs 250 to Rs 4750 per quintalNew Delhi: The government has increased the minimum support price (MSP) of raw
jute by Rs 250 to Rs 4,750 per quintal for the 2022-23 season.The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra
Modi, on Tuesday approved the MSP for raw jute for the 2022-23 season.The approval is based on recommendations of the Commission for
Agricultural Costs and Prices."The MSP of raw jute (TDN3 equivalent to TD5 grade) has been fixed at Rs 4,750 per quintal for 2022-23 season
with an increase of Rs 250 over the previous year
This would ensure a return of 60.53 per cent over all India weighted average cost of production," an official statement said.Jute
Corporation of India (JCI) will continue as central government nodal agency to undertake price support operations and the losses incurred,
if any, in such operations, will be fully reimbursed by the Centre.The announced MSP of raw jute for the 2022-23 season is in line with the
principle of fixing the MSP at a level of at least 1.5 times all India weighted average cost of production as announced by the government in
the Budget 2018-19."It assures a minimum of 50 per cent as margin of profit
It is one of the important and progressive steps towards ensuring better remunerative returns to the jute growers and to incentivise quality
jute fibre," the statement said. (Except for the headline, this story has not been edited by TheIndianSubcontinent staff and is published
