Cabinet Hikes Jute MSP to Boost Farmers' Income

The Indian government has approved a minimum support price (MSP) increase for raw jute to Rs 5,650 per quintal, benefiting 40 lakh farm families. The MSP ensures a return of 66.8% over production costs. The Jute Corporation of India will continue its Price Support Operations.

The Union Cabinet has announced a significant increase in the minimum support price (MSP) for raw jute, setting it at Rs 5,650 per quintal for the 2025-26 marketing season, marking a 6% rise over the previous MSP.

This decision, made during the Cabinet Committee on Economic Affairs meeting chaired by Prime Minister Narendra Modi, was detailed by Commerce and Industry Minister Piyush Goyal, highlighting the benefit to the nation's farmers.

With the new MSP reflecting a 66.8% return over production costs, and with its alignment to the 2018-19 budget principles, the measure aims to support the livelihoods of 40 lakh farm families, many of whom are concentrated in West Bengal, with others in Assam and Bihar.

(With inputs from agencies.)