Government Revises Raw Jute Stock Limits Amid Price Surge
The Jute Commissioner has announced new stock limits for raw jute in response to rising prices that have exceeded the Minimum Support Price (MSP) for the 2025-26 season. This decision aims to promote fair distribution and curb both hoarding and speculative practices, a concern highlighted by various stakeholders in the jute industry. The revised regulations are expected to stabilize the supply chain and protect the interests of farmers and manufacturers alike.
New Stock Limits Imposed
Under the updated guidelines, all raw jute balers who have registered with the Jute Commissioner must immediately sell their entire stock by May 5, 2026, with a physical delivery deadline set for May 15, 2026. Notably, raw jute balers without registration or those lacking a baling press are required to sell their stocks completely as well, while jute mills and processing units are allowed to maintain stocks equating to a maximum of 45 days’ consumption based on current production rates.
Regulatory Requirements
As part of the new regulations, all entities involved in stocking raw jute must declare and update their stock positions every two weeks using the Jute SMART portal. This requirement aims to enhance transparency and accountability in the jute supply chain. Stakeholders holding stocks that exceed the established limits are mandated to comply and complete their sales and deliveries by the specified deadlines.
Compliance and Enforcement Measures
To ensure compliance with these regulations, officials are authorized to conduct inspections of premises and documentation, with the authority to seize any excessive raw jute stocks found in violation of the new orders. Additionally, the government has reached out to state authorities for assistance in enforcing these measures against hoarding practices. Violations of stock position declarations or stock limit regulations will lead to punitive actions under the Essential Commodities Act of 1955.
This legislation addresses penalties for non-compliance under various sections of the Act, including hefty fines and confiscation of contraband stocks. These stringent measures come in response to the volatile pricing landscape of raw jute, aiming to secure the livelihoods dependent on this crucial industry and avoid disruptions in employment.
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