Shares of makers of jute products such as Gloster, Cheviot and Ludlow Jute were sharply higher by up to 5% in early trade on January 22, in anticipation of a higher Minimum Support Price (MSP) on raw jute for the upcoming season.
Last year, the MSP on raw jute had been raised for the 2024-25 season as well by Rs 285 to Rs 5,335 per quintal.
At Rs 5,335 per quintal, the new MSP for raw jute for the next season will be 5.6 percent higher than for 2023-24.
Harvesting is complete in most of the areas whereas it is still being carried out in case of late sown. Prevailing weather is more or less favourable for the p ...