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Cabinet hikes MSP for raw Jute to Rs 3,950/qtl for 20190-20

Press Trust of India  |  New Delhi 

The government Wednesday hiked the minimum support price for raw to Rs 3,950 per for 2019-20 season from Rs 3,700 per in the previous season.

The decision was taken at a meeting of the here, said.

"The MSP would yield returns of 55.81 per cent over the All-weighted average cost of production. The MSP of raw is expected to ensure appropriate minimum prices to the farmers and step up investment in cultivation and thereby production and productivity in the country," an official statement said.

The of will continue to act as central nodal agency to undertake price support operations at the minimum support price (MSP) in jute growing states.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, February 13 2019. 21:00 IST