In a bid to give a fillip to the jute crop, the Commission for Agricultural Costs and Prices (CACP) has recommended a Rs 50 per quintal hike in the minimum support price (MSP) for the TD-5 variety of the commodity to Rs 850 per quintal.
Some other recommendations of the commission include retaining the Jute Packaging Materials Act (JPMA) on food products such as sugar and foodgrains, promotion of export of diversified jute products, including jute bags and carpets, quality improvement of the commodity through better and upgraded rating technology, augmenting the infrastructure of the state-run Jute Corporation of India and improving its finances.
Official sources told Business Standard:
