The Cabinet Committee on Economic Affairs (CCEA) approved on 2 January 2014 the Minimum Support Price (MSP) of Jute for 2014-15.
The government announced Jute MSP of TD-5 variety at 2400 rupees per quintal with an increase of 100 rupees from previous year.
The increase in the MSP of raw jute is expected to encourage farmers to step up investment in jute cultivation and thereby production and productivity of jute in the country.
The premium for TD-3 and TD-4 varieties of raw jute will be maintained at 20 percent and 8 percent respectively in relation to the price of TD-5 to encourage farmers for the production of higher grades.
The Jute Corporation of India (JCI) acts as the nodal agency to undertake price support operation at MSP in jute growing states.
• The top 5 jute producing countries are India, Bangladesh, China, Myanmar and Vietnam.
• Jute crop required humid climate with temperature between 24 and 38 degree Celsius.
• Minimum rainfall required is 100mm and new grey alluvial soil is most suitable for jute cultivation.
• Jute is grown widely in sanding looms and clay loams.
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What: increased MSP for Jute
When: 1 January 2014
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