Cabinet Committee on Economic Affairs Decision
The Cabinet Committee on Economic Affairs has approved the Minimum Support Price (MSP) for 2013-14 season for TD-5 grade of jute at Rs.2300 per quintal for the entire country. This represents an increase of Rs.100 per quintal over the MSP announced by the Government for last season.
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 Jute Corporation of India (JCI) would continue to act as the nodal agency to undertake price support operations of the MSP in the jute growing states.