Financial Daily from THE HINDU group of publications
Friday, Apr 08, 2005
Financial Daily from THE HINDU group of publications Friday, Apr 08, 2005 |
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Agri-Biz & Commodities
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Rubber 2004 declared boom year for rubber Our Bureau
New Delhi , April 7 THE Price Stabilisation Fund (PSF) Trust in the Commerce Ministry has categorised the year 2004 as a `boom year' for natural rubber and a `normal year' for coffeeand tea. Accordingly, the PSF Trust has now announced the price spectrum band for rubber, coffee and tea for 2004. As no tobacco grower was enrolled under the scheme during the year 2004-05, the price spectrum band for tobacco has not been fixed. An official release said the price spectrum band for each commodity has been calculated on the basis of a seven-year moving average of international prices. The annual average domestic price in 2004 was Rs 62.42 per kg for tea, Rs 34.93 per kg for robusta, Rs 72.16 per kg for arabica and Rs 55.71 per kg for rubber. The year 2004 has been categorised as a boom/normal/distress year for each commodity on the basis of the relationship between the average annual domestic price and the price spectrum band. On the basis of price spectrum band for 2004, 9,521 coffee growers and 2,777 tea growers would receive financial assistance of Rs 47.61 lakh and Rs 13.89 lakh respectively from the PSF Trust during the current year. During 2004-05, 8,226 coffee growers and 1,861 tea growers received financial assistance of Rs 82.26 lakh and Rs 9.31 lakh, respectively. The Government had in April 2003 launched the Price Stabilisation Fund scheme for the growers of tea, coffee, natural rubber and tobacco. The price stabilisation fund scheme is meant to provide financial relief to growers when the prices of their commodities fall below a specified level.
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