On Thursday, the Indian Jute Mills Association (IJMA) hailed the Cabinet’s approval of a new pricing methodology for jute bags used in food grains and sugar packaging.
“The new pricing methodology is designed to provide better pricing for jute mills, encouraging modernisation and diversification within the industry. The government has reaffirmed its commitment to purchasing jute bags for the compulsory packaging of 100 per cent of food grains and 20 per cent of sugar, guaranteeing a stable market for jute producers,” IJMA said in a statement, reported PTI.
With the government purchasing jute bags worth Rs 12,000 crore annually, the new pricing approach guarantees a market for jute products, offering essential economic relief and stability to the industry.
The decision is expected to benefit around 400,000 workers in jute mills and related sectors by enhancing their livelihoods and working conditions.
The compulsory packaging requirements also support the livelihoods of approximately 4 million farmer families involved in jute production. The revised pricing will further improve their economic security and well-being, IJMA added.
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