Govt. Raises minimum support price for Jute
‘New MSP 250 higher over last year’
The Cabinet Committee on Economic Affairs on Tues day approved the Minimum Support Price (MSP) for raw jute for the 2022-2023 season.According to an official release, the MSP of raw jute (TDN equivalent to TDs grade) has been fixed at 24,750 a quintal for 2022- 2023 season, which is 2501 higher than the previous season. “This would ensure a return of 60.5% over All In- dia weighted average cost of production,” the govern- ment said.
The announced price is in line with the principle of fixing the MSP at a level of at least 1.5 times of the all-In dia weighted average cost of production as announced in the FY19 Budget and is based on the recommenda tions of the Commission for Agricultural Costs and Pric es. It assures a minimum of 50% as margin of profit, the government added.