Boost in Jute: New MSP Unveiled

The Union Cabinet has approved a new minimum support price (MSP) of Rs 5,650 per quintal for raw jute for the 2025-26 marketing season, marking a 6% increase over previous prices. The decision aims to benefit growers by ensuring a 66.8% return over production costs.

In a significant economic decision, the Union Cabinet has sanctioned a minimum support price (MSP) of Rs 5,650 per quintal for raw jute for the upcoming 2025-26 marketing season. This move marks a 6% rise, or Rs 315, over the previous rate.

Commerce and Industry Minister Piyush Goyal disclosed this development after the Cabinet meeting chaired by Prime Minister Narendra Modi. The revised MSP aims to bolster the income of jute growers by offering a 66.8% return on the all-India weighted average cost of production.

This latest adjustment signifies a 2.35 times increase from the MSP of Rs 2,400 per quintal set in the 2014-15 season, reflecting the government's continuous efforts to support the agricultural sector.

(With inputs from agencies.)