Support price of jute fixed at Rs 5650 per quintal

22-Jan-2025 07:54 PM

The Central Government has increased the minimum support price (MSP) for jute to Rs 5650 per quintal for the 2025-26 marketing season.

This marks a Rs 315 increase from the Rs 5335 MSP set for the previous season, 2024-25. This hike is expected to benefit farmers, providing them with a price that is 66.8% higher than the average production cost of jute at the all-India level.

Since 2014-15, the MSP for jute has risen by 2.35 times. Jute is an important industrial crop used in manufacturing gunny bags and other products, with key producing states such as West Bengal, Bihar, Andhra Pradesh, Assam, and Meghalaya.

The government's decision to increase the MSP aims to encourage farmers to boost jute production, which has been declining.

The support price hike reflects the government’s ongoing efforts to motivate farmers to continue cultivating jute and ensure its availability for both domestic and export markets.