Jute Current Affairs

CCEA approves 9.4% hike in raw jute MSP for 2017-18 season

The Cabinet Committee on Economic Affairs (CCEA) has approved increase in the Minimum Support Price (MSP) for raw Jute for 2017-18 season in order to protect the economic interests of the farmers.

The MSP was increased to Rs. 3500/- per quintal for 2017-18 season, an increase of Rs. 300/- (9.4%) over the previous year.

Key Facts
  • Jute is long, soft, shiny vegetable fiber mainly used as raw material for Packaging Industry. It is also called as the golden fiber for its colour and high cash value.
  • The increase in MSP will benefit Jute industry which supports the livelihood of around 40 lakh farm families and 3.7 lakh workers directly employed in the organised mills and in tertiary sector and allied activities.
  • These farm families are mainly concentrated in three eastern states viz. West Bengal, Bihar and Assam which account for over 95% of the total area under jute production in the country.
  • National Seeds Corporation Limited (NSCL) is promoting new varieties of jute viz., JRO-204, JBO-2003, JRS-517, JRC-532 and JRO-2407 under National Food Security Mission (NFSM)-Commercial Crops.
  • In this regard, NSCL has entered into agreement for promotion of new varieties of jute seeds in the jute growing states.

Tags:

KVR Murthy appointed as CMD of Jute Corporation of India Limited

KVR Murthy was appointed as the Chairman-cum-Managing Director (CMD) of the Jute Corporation of India Limited (JCIL).

He will have tenure of five years or till the date of his superannuation, whichever is earlier. Prior to this appointment he was serving as the Chief Commercial Manager of Eastern Railways.

About Jute Corporation of India Limited (JCIL)

  • JCIL is a nodal agency of Union Government that assists jute cultivators by providing minimum price support (MSP) and also work as a helping hand in the raw jute sector.
  • Founded:
  • Headquarters: Kolkata, West Bengal.
  • It operates in the main jute-growing states of West Bengal, Bihar, Assam, Meghalaya, Tripura, Orissa, and Andhra Pradesh.

Tags:

12