Lucrative Business Idea Unveiled: Earn Up To 63% Profit Margin With Ease

File Photo

New Delhi: The country's primary means of subsistence is agriculture. So, here is a fantastic money-making idea that can assist farmers in producing a lot of money by growing a particular crop. Jute can be grown by farmers to provide income. And the government encourages farmers to cultivate jute.

For this reason, the crop's price has increased to expand the area under jute cultivation in the nation and give farmers larger prices. ()

The minimum support price (MSP) for jute would increase by 6 percent for the 2023–24 season compared to the prior season, according to the central government. ()

According to a press statement from the Ministry of Agriculture & Farmers' Welfare, this rise in MSP will result in a return of 63.2 percent on typical production expenses.

Additionally, it stated that the Jute Corporation of India would conduct price support activities if market prices declined below MSP.

Over time, jute has become one of the most beneficial natural fibers. After the harvest of the wheat and mustard, it is sown between March and April. Reports state that about 50 percent of the world's jute production is produced in India.

Among the top jute-producing states in India are West Bengal, Tripura, Odisha, Bihar, Assam, Uttar Pradesh, and Meghalaya. Jute is also produced in large quantities in Bangladesh, China, and Thailand in addition to India.

Our nation views jute as a cash crop. It is a long, silky, and glossy plant, and its fibers are used to create thick thread or yarn. The thread made from the fiber is used to create baskets, rugs, curtains, and packing bags.

Grain sacks are only ever constructed from jute. Jute has a variety of uses, which is why its demand is rising quickly. To encourage more farmers to grow it, the government has raised the minimum support price.

(Disclaimer: This article is for sole information purpose and for readers' project identification. The earning calculator is also mostly based on assumptive figures to give an example of certain type. Zee News article does not intend to give any financial advice of any sorts. For initiating any venture, you must do your own due diligence and market research.)