Minimum Support Price (MSP) for Raw Jute approved

Why in News?

• The Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister Shri Narendra Modi has approved the Minimum Support Price (MSP) for Raw Jute for the marketing season 2025-26.

Key Points:

• The MSP for raw jute (TD-3 category) for the 2025-26 season has been fixed at Rs 5,650 per quintal.
• The MSP for raw jute for the marketing season 2025-26 is Rs 315 per quintal higher than the previous marketing season 2024-25.
• The MSP for raw jute in the year 2014-15 was Rs 2400 per quintal.

Minimum Support Price (MSP):

• It is the rate at which the government buys crops from farmers.
• It is at least one and a half times the cost of production of farmers.
•  It was started in the year 1966-67 for wheat.
• On which crops is MSP given:
  • The government recommends MSP through the Agricultural Cost and Price Commission.
  • 'Fair and Remunerative Price' (FRP) is recommended for sugarcane.
• List of Crops:
  • Cereal Crops – 7
    • Paddy, Wheat, Barley, Jowar, Bajra, Maize and Ragi
  • Pulses – 5
    • Gram, Arhar, Moong, Urad and Masur Dal
  • Oilseeds - 8
    • Groundnut, Mustard, Toria (Lahi), Soyabean, Sunflower Seeds, Sesame, Safflower Seeds, Niger Seeds
  • Raw Cotton, Raw Jute, Coconut, Desiccated Coconut
  • Sugarcane (Fair and Remunerative Price)