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CCEA hikes MSP for Jute for 2009-10 season
20
Jun '09
In order to safeguard the interest of jute growers, the Cabinet Committee on Economic Affairs fixed the Minimum Support Price (MSP) for 2009-2010 season for TD-5 grade of jute ex-Assam at Rs.1375 per quintal.

This represents an increase of Rs. 125 per quintal over the MSP announced by the Government last season. The increase in the MSP of Raw Jute is expected to encourage the farmers to step up investment in jute cultivation and thereby production and productivity of jute in the country.

The Jute Corporation of India (JCI) would continue to act as Nodal Agency to undertake price support operation at the Minimum Support Prices and the losses incurred, if any, in the MSP operations, will be fully reimbursed by the Central Government.

BACKGROUND:
Production of jute is concentrated in the states of West Bengal, Assam, Bihar and Orissa. Jute is a highly labour intensive crop and the human labour component constitutes nearly 75 per cent of the total input cost.

The composite variable input price as measured by variable input index has increased by 9.28 per cent for Assam, 16.07 per cent for Bihar, 8.46 per cent for Orissa, 7.71 per cent for West Bengal between 2006-07 and 2009-2010.

Cabinet Committee on Economic Affairs (CCEA)


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