Raw jute prices fall on 10% dilution plan

The raw jute prices have tanked to Rs 36,650 per tonne in February this year

Prices of raw jute are going downhill with the Union textiles ministry’s plan to go for dilution of the mandatory jute packaging order and dwindling crop supplies triggered by demonetisation.

Amid projected shortfall of 0.17 million bales (one bale is 180 kg) of B Twill jute bags during the rabi marketing season (RMS) 2016-17, the ministry has allowed a dilution of 10 per cent in the mandatory jute packaging order for food grains. The Jute 1 Packaging Materials Act, 1987, mandates 100 per cent use of jute bags for packaging of food grains meant for government procurement

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