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Cabinet raises jute MSP to Rs 5,335 per quintal
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Union cabinet has approved a hike in the Minimum Support Price (MSP) of raw jute for the 2024-25 season to Rs 5,335 per quintal, according to Union Minister Piyush Goyal on Thursday.
This is up from the current MSP of Rs 5,050 per quintal, a hike of 5.6%.
This would ensure a return of 64.8% over the all India weighted average cost of production, the government said in a statement.
In the current season 2023-24, the government has procured a record amount of more than 6.24 lakh bales of raw jute through the Jute Corporation of India, at the cost of Rs 524.32 crore, benefitting around 1.65 lakh farmers.
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