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MSP for Raw Jute
April 28 , 2018
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- The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi has given its approval for an increase in Minimum Support Price (MSP) for Raw Jute for the 2018-19 season.
- The MSP for Fair Average Quality (FAQ) of Raw Jute was increased to Rs.3700 per quintal for the 2018-19 season from Rs. 3500 per quintal in the 2017-18 season.
- The increased MSP was based on recommendations of Commission for Agricultural Costs and Prices (CACP).
- The Jute Corporation of India (JCI) will continue to act as Central Nodal Agency to undertake price support operations at MSP in Jute growing states.
Commission for Agricultural Costs and Prices (CACP)
- It is an attached office of the Ministry of Agriculture and Farmers Welfare. It came into existence in January 1965.
- CACP is an expert body which recommends MSPs on various crops to Central Government (CCEA) by taking into account cost of production, trends in domestic and international prices.
- Currently, CACP comprises Chairman, Member Secretary, one Member (Official) and two Members (Non-Official).
- The non-official members are representatives of farming community and usually have an active association with the farming community.
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