According to Fibre2Fashion’s market insight tool TexPro, jute prices were ruling at ₹6,595.65 per quintal in March 2022. It increased by 2.02 per cent to ₹6,728.57 per quintal in April. But jute slipped 4.07 per cent to ₹6,454.55 per quintal in May and 3.94 per cent to ₹6,200 per quintal in June 2022. The prices gained 1.28 per cent to reach ₹6,540 per quintal in February from ₹6,457.14 per quintal of January 2022.
The government had increased the minimum support price (MSP) of raw jute by ₹250 to ₹4,750 per quintal for the 2022-23 season. The new MSP was announced in March 2022, before the beginning of the next Kharif sowing.
Union ministry of agriculture has said in its weekly sowing report that the total area under sowing of Jute and Mesta was 6.80 lakh hectare till 24 June 2022 which was 0.28 per cent lower from the sowing of 6.82 lakh hectare during corresponding period of last season. According to third agriculture advance estimate of 2021-22, Jute and Mesta production was 102.22 lakh MT which was lower than the target of 106 lakh MT but was higher than the production of 93.54 lakh MT in previous year 2020-21.
Fibre2Fashion News Desk (KUL)