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Centre Decides To Lift Price Capping Of Raw Jute From 20 May

The ministry said that it is expected that the cap removal will help the farmers, mills and Jute MSME sector wherein over 7 lakhs people are dependent on the jute trade in addition to about 40 lakhs jute farmers

Photo Credit : Reuters

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The central government after examination of the market dynamics of raw jute trade has lifted the price cap of Rs 6,500 per quintal for TD5 grade of raw jute fixed with effect from 20 May on purchase of raw jute by the Jute mills and other end users.

According to the Ministry of Textiles, "Jute Commissioner Office has been collecting the information about the raw jute prices through formal and informal sources and it has found that the present prices are ruling near the capped price." 

The ministry said that it is expected that the cap removal will help the farmers, mills and Jute MSME sector wherein over 7 lakhs people are dependent on the jute trade in addition to about 40 lakhs jute farmers. 

"The decreasing trend in prices will also benefit jute goods exports which constitute about 30 per cent of the industry’s turnover in value terms," it said.



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central government Price Capping Raw Jute