COMMODITY
Govt hikes MSP for raw jute to Rs 3,950 per quintal for 2019-20
Feb-14-2019

Cabinet Committee of Economic Affairs has approved minimum support price (MSP) for raw jute at Rs 3,950 per quintal for 2019-20 season, higher from previous season's Rs 3,700 per quintal.

MSP is expected to yield returns of 55.81% over the All-India weighted average cost of production. The MSP of raw jute will make sure appropriate minimum prices to the farmers and step up investment in jute cultivation and thereby production and productivity in the country.

The Jute Corporation of India will continue to act as central nodal agency to undertake price support operations at the MSP in jute growing states. Earlier, the government had raised MSP of 22 kharif and rabi crops to a minimum of 50% returns over cost.

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