New Delhi. The Union Cabinet has taken a historic decision to increase the Minimum Support Price (MSP) of raw jute (TD-3 grade) for the marketing season 2026-27. According to this decision taken under the chairmanship of Prime Minister Narendra Modi, MSP will now be Rs 5,925 per quintal. With this, farmers will get about 62 percent profit on their production cost.
Significant increase in MSP
This time the MSP has been kept higher by Rs 275 per quintal compared to the last season. The government decided this in line with its 2018-19 policy, which stated that the minimum support price should be at least 1.5 times the average production cost. In 2014-15, the MSP of jute was Rs 2,400 per quintal. Now it has reached Rs 5,925, i.e. an increase of almost 2.5 times. This continuously increasing MSP ensures long-term benefits to the farmers.
Improvement in farmers’ income
With the increase in MSP, the income of jute growing farmers will improve and they will be able to get better prices for their crops. In the last decade, the government has continuously provided financial support to jute farmers through MSP. A total of Rs 1,342 crore was paid between 2014-15 to 2025-26, compared to Rs 441 crore between 2004-05 to 2013-14. Central Jute Corporation (JCI) will monitor the process. If there is any loss, it will be fully compensated by the government.
Production and industry will benefit
Jute is not only an agricultural product but also an essential raw material for many industries. It is used in the manufacturing of bags, ropes, carpets and other products. By increasing MSP, farmers will produce more and the quality will improve. Apart from this, jute industry will also get strengthened and the self-reliance of the country will increase. This will increase employment opportunities and both agriculture and industry sectors will benefit.
Comments are closed.