Raw jute prices in the domestic market, witnessed fall of 40 per cent to reach around Rs 18,000 a tonne this month.
The steep fall in raw jute prices has been seen amid concerns of a possible 25 per cent dilution in Jute Packaging Materials Act (JPMA) of 1987. JPMA provided 100 per cent reservation for jute bags in packaging of food grains and sugar procured by the government.
The Centre''s Standing Advisory Committee chaired by the Union textiles secretary recommended the 25 per cent dilution in JPMA. The matter was expected to be taken up for discussion by the Cabinet Committee on Economic Affairs (CCEA). The sharp fall in raw jute prices has also been attributed to the sugar industry''s move to refrain from procuring jute bags, on the feedback that the Union textiles ministry is bent on 25 per cent dilution.
The steep fall in raw jute prices has been seen amid concerns of a possible 25 per cent dilution in Jute Packaging Materials Act (JPMA) of 1987. JPMA provided 100 per cent reservation for jute bags in packaging of food grains and sugar procured by the government.
The Centre''s Standing Advisory Committee chaired by the Union textiles secretary recommended the 25 per cent dilution in JPMA. The matter was expected to be taken up for discussion by the Cabinet Committee on Economic Affairs (CCEA). The sharp fall in raw jute prices has also been attributed to the sugar industry''s move to refrain from procuring jute bags, on the feedback that the Union textiles ministry is bent on 25 per cent dilution.
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