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New Delhi, May 10: The year 2005 has been categorised as boom-year for rubber and coffee and a normal year for tea, based on the price spectrum band calculated by the price stabilisation fund (PSF) trust of the commerce ministry.
The PSF scheme is based on the principle of contribution from the growers and from the government, depending upon boom, normal or distress years, with a provision for withdrawal by the growers during the distress year. The contribution of the participant growers as well as that of the government is credited to the savings bank account of the participant growers opened for the purpose with any nationalised bank.
On the basis of the price spectrum band 2005, a total of 14,882 tea growers would receive financial assistance of Rs 74.41 lakh from the PSF Trust during the current year, an official release said.
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 during 2005 was Rs 56.50 per kg for tea, Rs 53.65 per kg for Robusta coffee, Rs 104.34 per kg for Arabica coffee and Rs 60.68 per kg for natural rubber.
The commerce ministry had launched the PSF scheme in April 2003 for the growers of tea, coffee, rubber and tobacco. The objective of the scheme is to provide financial relief to the growers when the prices of these commodities fall below a specified level.
The contribution of the participant grower or government in the growers’ account and withdrawal from the account is decided with reference to the price spectrum band, which is fixed and announced every year.
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