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Jute costs fall beneath MSP in Bengal – Information by Automobilnews.eu

Jute costs fall beneath MSP in Bengal


Jute costs in West Bengal, notably of the decrease grades, have slipped beneath the minimal assist worth, amid muted demand and “lack of satisfactory procurement assist” from the Jute Company of India (JCI), business sources mentioned.

Worth of the TD5 selection was ruling at Rs three,425 per quintal, whereas TD6 was at Rs 2,525 as in opposition to the MSP of Rs three,500 and Rs three,100, respectively.

“Jute worth of TD5 and TD6 was hovering beneath MSP, as a result of insufficient buy assist from JCI. The Centre’s coverage to obtain jute baggage for necessary packaging of 580 gm has additionally led to an abrupt decline in demand for TD6 number of uncooked jute by mills,” one of many sources instructed PTI.

This has fuelled an increase in costs of upper grades of uncooked jute, as demand shifted to raised varieties.

When contacted, JCI chairman Ok V R Murthy declined to touch upon the problem.

Although the usual estimate of the Fee for Agricultural Prices and Costs (CACP) for TD6 manufacturing is 15 per cent of the entire uncooked jute output, market projections are to the extent of 30-35 per cent because the 2016-17 crop season.

The West Bengal authorities has determined to obtain 1.2 lakh bales of sacking baggage to ease out the scenario.

Nonetheless, it didn’t assist the free fall of costs of uncooked jute, the sources mentioned.

As per the present development, procurement by JCI is 1.three per cent of the estimated manufacturing of 85 lakh bales, they mentioned.

JCI is remitted to obtain jute from farmers with none restrict if they carry it to procurement centres.

The jute physique operates round 30 direct buy centres out of 171 in West Bengal.



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Jute costs fall beneath MSP in Bengal – Information by Automobilnews.eu
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