Cabinet Committee on Economic Affairs, on the recommendations of CACP, today gave its approval for the fixation of Minimum Support Price (MSP) of TD-5 grade of Jute ex-Assam for 2007-08 season at Rs1055 per quintal. The approved MSP for TD-5 grade of jute ex-Assam for the year 2007-08 is higher by Rs55 per quintal over the prices approved by the Government for the year 2006-07.
The corresponding minimum support price for other varieties and grades of raw jute across locations be fixed keeping in view, apart from normal market price differentials, the aggregate scores assigned to different grades. The Jute Corporation of India will continue as the Central nodal agency to undertake price support operations and the losses incurred, if any, will be reimbursed by Government of India.
The enhancement of MSP will protect the interest of Jute growers through assured remunerative prices.
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