IJMA suggests fair raw jute price at Rs 7,200 per quintal

Kolkata: The Indian Jute Mills Association (IJMA) has suggested to revise the fair raw jute price to Rs 7,200 per quintal from Rs 6,500 per quintal now fixed by the regulator Jute Commissioner.
The IJMA had submitted their suggestion after an emergency meeting pursuant to a high level meeting at the Nabanna, the state secretariat in presence of state Chief Secretary.
The West Bengal government had sought their suggestions as it cannot allow unabated price rise of foodgrain jute sacking bags.
IJMA members understood the sentiments of the government that unabated rise in price of raw jute leading to consequent rise in price of jute bags cannot be permitted. Hence IJMA would like to propose that the purpose of computation of B Twill prices, maximum price of raw jute TDN3 ex-West Bengal, Kolkata landed, may be considered at Rs 7,200 per quintal, IJMA sources told PTI.
They said despite fair price fixed by Jute Commissioner at Rs 6,500 but landed cost to mills is Rs 7,000 as jute balers were adding Rs 500 as transportation cost and hence industry was deprived to get raw material at the announced fair price and urged the government to consider this in computation of the final sacking bag.
The mills body also pointed out that since market forces will be allowed to function freely in raw jute trade and at some point, the prices may fall below the proposed maximum price of Rs 7,200 per quintal, the lower raw jute price shall be considered for B Twill price computation.
IJMA suggested this proposed arrangement should remain valid up to the end of the current jute year i.e. 30th June’22.
Several meetings had already taken place on the prevailing crisis and West Bengal had taken up with the Prime Minister’s Office and Ministry of Textiles on IJMA’s request for review of the price cap notification and also on the question of sustainability of such order.
Meanwhile, there had been protests against the Jute Commissioner’s order on jute stock limit for various types of traders.

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