JCI to Bolster Jute Sector with Modernization Initiatives

The Jute Corporation of India (JCI) announced that it will begin purchasing raw jute at the minimum support price (MSP) starting July for the 2025-26 season. The MSP for the TD-3 variety, recognized as the benchmark grade, has been set at Rs 5,650 per quintal, showing an increase from last year's Rs 5,335 per quintal.

JCI's Managing Director Ajay Kr Jolly conveyed optimism regarding the upcoming jute season, predicting a 10% rise in sowing and increased production. Already, the corporation has procured 5.05 lakh quintals worth Rs 252 crore in the ongoing 2024-25 jute year, and plans to keep the MSP procurement window open until June.

Aiming to mitigate distress sales among farmers, JCI operates 135 purchase centers. Emphasizing a modernizing vision, it plans to introduce blockchain technology and an e-auction platform in its operations. Additionally, an apprentice course has been launched to nurture talent within the jute sector.

(With inputs from agencies.)