Centre decides to lift the Price Capping of Raw Jute effective from 20th May

NEW DELHI:

The Central Government  after careful examination of the market dynamics of raw jute trade has lifted  price cap of Rs 6500/- per quintal for TD5 grade of raw jute fixed w.e.f. 30th September, 2021 on purchase of raw jute by the Jute Mills and other end users.

 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.  As the existing prices of Raw Jute are ruling around Rs. 6500/- Govt. of India has taken a dynamic decision to lift the price capping w.e.f. 20th May, 2022.

  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% of the Industry’s turnover in value terms.  

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