New Delhi, Jan 22, 2025, Special Correspondent

New Delhi, Jan 22: In a good news for jute growers in West Bengal and Assam, the Centre on Wednesday approved the Minimum Support Prices (MSP) of Raw Jute for Marketing season 2025-26.

The MSP of Raw Jute (TD-3 grade) has been fixed at Rs.5,650/- per quintal for 2025-26 season. This would ensure a return of 66.8 percent over the all India weighted average cost of production, Commerce and Industry Minister Piyush Goyal told mediapersons after a meeting of the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi.

The approved MSP of raw jute for marketing season 2025-26 is in line with the principle of fixing MSP at a level of at least 1.5 times all India weighted average cost of production as announced by the Government in the Budget 2018-19.

The MSP of Raw Jute for marketing season 2025-26 is an increase of Rs.315/- per quintal over the previous marketing season 2024-25.

The Government of India has increased MSP of Raw Jute from Rs.2400 /-per quintal in 2014-15 to Rs.5,650/- per quintal in 2025-26, registering an increase of Rs. 3250/- per quintal (2.35 times).

The MSP amount paid to jute growing famers during the period 2014-15 to 2024-25 was Rs. 1300 Crore while during the period 2004-05 to 2013-14, amount paid was Rs. 441 Crore.

Livelihood of 40 Lakh farm families directly or indirectly depends on jute Industry. Around four lakh workers get direct employment in jute mills and trade in jute. Last year jute was procured from 1 Lakh 70 thousand farmers.

Eighty two per cent of jute farmers belong to West Bengal while rest Assam and Bihar have nine per cent each of jute production share.

The Jute Corporation of India will continue as Central Government Nodal Agency to undertake Price Support Operations and the losses incurred, if any, in such operations, will be fully reimbursed by the Central Government.