The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved a minimum support price of Rs 5,650 per quintal for raw jute for the 2025-26 marketing season. This marks a 6% increase, or Rs 315, from the previous MSP.
Announcing the decision, Union Commerce and Industry Minister Piyush Goyal said the new MSP offers a 66.8% return over the all-India weighted average cost of production, benefiting jute growers significantly.
The MSP for raw jute has seen a steady rise, increasing from Rs 2,400 per quintal in 2014-15 to Rs 5,650 per quintal for 2025-26, reflecting a 2.35-fold growth over the past decade, the minister said.
The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved a minimum support price of Rs 5,650 per quintal for raw jute for the 2025-26 marketing season. This marks a 6% increase, or Rs 315, from the previous MSP.
India is the world's largest producer of jute goods, contributing approximately 75% of global production. With a vast domestic market, nearly 90% of the country's total jute production is consumed domestically, according to government data.
India's jute industry manufactures a wide range of products, including hessian or burlap (plain-woven fabric), sacking (loosely woven cloth), food-grade jute cloth, yarn, carpet backing cloth, blankets, decorative fabrics, floor coverings, and shopping bags.
The country boasts an impressive installed capacity of over 50 million spindles and 8,42,000 rotors, highlighting its significant production capability in the jute sector.
India exports jute and jute products mainly to the USA, the UK, Australia, Belgium, Egypt, Germany, Italy, Japan, Saudi Arabia, and Turkey. The MSP for raw jute has seen a steady rise, increasing from Rs 2,400 per quintal in 2014-15 to Rs 5,650 per quintal for 2025-26, reflecting a 2.35-fold growth over the past decade, the minister said.
(With PTI inputs)
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