Jute prices in West Bengal, particularly of the lower grades, have slipped below the minimum support price, amid muted demand and "lack of adequate procurement support" from the Jute Corporation of India (JCI), industry sources said.
Price of the TD5 variety was ruling at Rs 3,425 per quintal, while TD6 was at Rs 2,525 as against the MSP of Rs 3,500 and Rs 3,100, respectively.
"Jute price of TD5 and TD6 was hovering below MSP, due to inadequate purchase support from JCI. The Centre's policy to procure jute bags for mandatory packaging of 580 gm has also led to an abrupt decline in demand for TD6 variety of raw jute by mills," one of the sources told
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