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What is Jute Corporation of India mean?
The Jute Corporation of India Limited (JCI) was incorporated by the Government Of India in 1971 as a price support agency with a clear mandate for the procurement of raw jute / mesta without any quantitative limit from the growers at the minimum Support price (MSP) declared in each year by the Government Of India based on the recommendations made by Commission for Agricultural Cost & Prices (CACP). This protects the jute growers from exploitations in the hands of the middle men. The basic objective is not profit making but a social cause to protect the interest of about 4.00 million families engaged in farming of jute, most of whom are small / marginal farmers. Therefore, the presence of JCI in the market provide stability in the raw jute prices.
referencePosted on 14 Dec 2024, this text provides information on Miscellaneous in Business related to Business. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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