Purchase of raw jute may increase by 50 percent in the current season
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In the jute season of the last financial year, JCI had purchased a record 4.34 lakh quintals of jute. “There has been a bumper jute crop this year and the production is expected to be 91 lakh bales,” Majumdar said.
With a good crop last year, Jute Corporation of India (JCI) expects to purchase at least 50 percent more raw fiber in the current jute year (2023-24) as compared to last year. A senior official said this on Wednesday. JCI has been ordered by the government to procure raw jute from farmers at Minimum Support Price (MSP).
The average MSP price this year is Rs 5,050 per quintal. JCI General Manager K. Majumdar told PTI that the purchase of raw jute in the current jute crop year 2023-24 (July-June) is very high. Till mid-September, we have already purchased 2.30 lakh quintals of jute. We hope that this campaign will run throughout the year and the total procurement will be 50 percent more than last year or 6-7 lakh quintals.
In the jute season of the last financial year, JCI had purchased a record 4.34 lakh quintals of jute. Majumdar said, “There has been a bumper crop of jute this year and the production is expected to be 91 lakh bales.” For the safety of farmers, the central government has imposed anti-dumping duty on jute and gunny bags coming from Bangladesh.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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