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Role Of JCI Will Be Greater This Year For Jute Cultivators
BUSINESS ECONOMICS
|September 01-15, 2017
The Jute Corporation of India (JCI) will have a greater role this year in the pricing of raw jute in India.
This year is particularly important because the production of jute is expected to be much higher in spite of the flood impact in West Bengal, the biggest producer of jute in the country. Purnendu Bose, Minister in Charge, Agriculture, Government of West Bengal, told BE that in vast areas of north Bengal, in the districts of Cooch Behar, Jalpaiguri, North and South Dinajpur, Maldah etc., about 3442 hectares of jute cultivated land have been affected by flood. The cultivators will have to be compensated somehow. But I think the loss of production may not be as massive as it should be. Last year production was 85 lakh bales (1 bale =180 kg). This year production would have been about 90 lakh bales but due to flood situation it may come down to about last year’s level of production, added Bose.
Minimum Support Price (MSP) and its role
This story is from the September 01-15, 2017 edition of BUSINESS ECONOMICS.
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