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.

Please Rate this article, so that we can improve the quality for you -