NEW DELHI, April 17 (PTI): Tea, coffee and rubber growers in the country will not get any financial aid for 2008, under a government scheme, as prices were better.
“As 2008 was good for growers of tea, coffee and rubber, each member would deposit Rs 1,000 in their PSF accounts and no financial assistance will be given from the fund,” a senior government official said.
Under the PSF scheme growers of tea, coffee, natural rubber and tobacco get financial relief if prices fall below a specified level. The fund is created by the government in 2003 and together with growers it deposits a fixed amount.
While no tobacco grower is enrolled under the scheme, there are 45,268 growers of tea, coffee and rubber enrolled.
Based on the annual average domestic price for tea, coffee (both arabica and robusta) and rubber, the Price Stabilisation Fund Trust (PSFT) of the government has termed 2008 a ‘boom year’ for the three crops.
The annual average domestic price for tea was Rs 84.35 per kg, coffee arabica and robusta was Rs 131.27 per kg and Rs 96.86 per kg, respectively and that of rubber was Rs 107.75 per kg.
Price spectrum band for each year is calculated on the basis of seven years’ moving average of international price for the commodity.
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