Good news for farmers!  Government hikes jute prices, increased MSP by Rs 250

Good news for farmers! Government hikes jute prices, increased MSP by Rs 250

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Raw Jute Minimum Support Price: Good news is coming for the farmers that the central government has increased the prices of jute. The Union Cabinet has increased the Minimum Support Price- MSP of raw jute by Rs 250 per quintal. With this decision of the government, the MSP of raw jute for the season 2022-23 has gone up to Rs 4,750 per quintal.

The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, today approved the Minimum Support Price-MSP for raw jute for the season 2022-23. This approval is based on the recommendations of the Commission for Agricultural Costs and Prices.

The minimum support price for raw jute (TDN3 equivalent to TD5 grade) for the 2022-23 season has been fixed at Rs 4750 per quintal. The MSP of raw jute for the new season is in accordance with the principle of fixing the MSP at the level of at least 1.5 times the All India Weighted Average Cost of Production announced by the government in the budget for the year 2018-19.

Tags:, cabinet decision, Farmer

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