Centre decides to lift price capping on raw jute
Tags: National News
The government has decided to remove the price cap of Rs 6,500 per quintal on raw jute from May 20 this year.
The removal of the cap will help farmers, mills and the jute MSME sector, in which more than 7 lakh people depend on the jute trade, apart from around 40 lakh jute farmers.
The price cap was fixed on September 30 2021.
The declining trend in prices will also benefit the exports of jute goods, which account for about 30 percent of the turnover of the industry in value terms.
Some important facts
Jute is an important natural fibre crop after cotton in India.
Raw jute plays an important role in the economy of the country.
Jute cultivation is mainly concentrated in eastern and north eastern India.
India is the world's largest producer of jute, followed by Bangladesh.
It is primarily grown in West Bengal, Odisha, Assam, Meghalaya, Tripura and Andhra Pradesh.
West Bengal leads jute cultivation.
The jute industry of India is 150 years old.
There are about 60 jute mills in West Bengal.
Jute can be used for geotextiles, activated carbon powder, wall coverings, floors, textiles, rugs, ropes, sacks, handicrafts, curtains, carpet backings, papers, sandals, carry bags and furniture.
In October 2020, the government decided that 100% food grains and 20% sugar would be compulsorily packed in jute bags.
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