New Delhi: The Cabinet Committee on Economic Affairs (CCEA) approved fixing the minimum support prices (MSP) of raw jute at Rs.5,650 per quintal for the 2025-26 marketing season, here today.
“This would ensure a return of 66.8 per cent over the all-India weighted average cost of production,” the CCEA stated. It added that the approved minimum support price of raw jute for Marketing season 2025-26 is in line with the principle of fixing 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.
The minimum support price of raw jute for marketing season 2025-26 is an increase of Rs. 315 per quintal over the previous marketing season 2024-25. The Cabinet Committee on Economic Affairs pointed out that the government has increased the MSP of raw jute from Rs.2400 per quintal in 2014-15 to Rs.5,650 per quintal in 2025-26, registering an increase of Rs. 3250/- per quintal (2.35 times). The minimum support price amount paid to jute-growing farmers during the period 2014-15 to 2024-25 was Rs. 1300 crore, while during the period 2004-05 to 2013-14, the amount paid was Rs. 441 crore.
The livelihood of 40 lakh farm families directly or indirectly depends on the jute industry. About 4 lakh workers get direct employment in jute mills and trade in jute. Last year jute was procured from 1 Lakh 70 thousand farmers. 82% of jute farmers belong to West Bengal while the rest Assam and Bihar have 9% each of jute production share.
The Jute Corporation of India (JCI) will continue as the Central Government nodal agency to undertake price support operations and the losses incurred, if any, in such operations, will be fully reimbursed by the Central Government.
– global bihari bureau
