The Jute Commissioner Office collects information on raw jute prices through formal and informal sources, ensuring that current prices are close to the maximum price. The current price of raw jute is around £ 6,500, so the Government of India has made a dynamic decision to raise the price cap from today, the Ministry of Textiles said in a media announcement.
After careful consideration of the market dynamics of raw jute trading, the Indian central government raised the price limit of £ 6,500 per quintal of TD5 grade raw jute modified by the purchase of raw jute from September 30, 2021. Jute Mill and other end users. Cap removal benefits farmers, mills and the MSME sector of jute.
Cap removal is expected to help farmers, flour mills and the jute MSME sector, where more than 70,000 rupees depend on the jute trade, in addition to the jute farmers of around Rs. 400,000. The downward trend in prices also benefits the export of jute products, which account for about 30% of the industry’s sales in terms of value.
Fiber2Fashion News Desk (KD)
Indian government raises price limit for raw jute
Source link Indian government raises price limit for raw jute