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PRICE SPECTRUM BAND FOR 2006 ANNOUNCED FOR RUBBER COFFEE AND TEA
Date : 25 Apr 2007
Location : New Delhi
The Price Stabilisation Fund Trust,
Department of Commerce, Government of India has announced the Price Spectrum
Band for the year 2006 for Rubber, Coffee and Tea. The Price Spectrum Band for
each commodity has been calculated on the basis of Seven Years’ Moving average
of International price for the commodity. The annual average domestic price for
Tea was Rs. 63.62/kg during 2006 and it has been categorised as ‘Normal
Year” for Tea. The annual average domestic price for Coffee Arabica during
2006 was Rs. 109.84/kg and it has been categorised as ‘Boom Year” for Coffee
Arabica. The annual average domestic price for Coffee Robusta was Rs.
63.02/kg during 2006 and it has been categorised as ‘Boom Year” for Coffee
Robusta. The annual average domestic price for Rubber was Rs. 87.83/kg during
2006 and it has been categorised as ‘Boom Year” for Rubber. As no tobacco
grower was enrolled under the scheme, Price Spectrum Band for tobacco has not
been fixed. On the basis of Price Spectrum Band 2006, 14928 Tea growers would
receive financial assistance of Rs. 74.64 lakh from the PSF Trust during
2007-08.
The Department of
Commerce, Government of India had launched the Price Stabilisation Fund Scheme
in April 2003 for the benefit of growers of Tea, Coffee, Natural Rubber and
Tobacco. The objective of the Price Stabilisation Fund Scheme is to provide
financial relief to the growers when the prices of these commodities fall below
a specified level. The scheme is based on the principle of contribution from the
growers and from the Government depending upon boom / normal / distress years,
with a provision for withdrawal by the growers during the distress year. The
contribution of the participant grower as well as that of the Government is
credited to the savings bank account of the participant grower opened for this
purpose with a nationalized bank.
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SB/NR/MRS
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