Price band for 2006 for rubber, coffee and tea announced

New Delhi, Apr 25 (UNI) The Price Stabilisation Fund (PSF) Trust of Commerce Ministry has announced the Price Spectrum Band, calculated for year 2006 on the basis of Seven Years' Moving average of International price for Rubber, Coffee and Tea.

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 annual average domestic price for Tea was Rs 63.62 per 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 per kg and it has been categorised as 'Boom Year' for Coffee Arabica.

The annual average domestic price for Coffee Robusta was Rs 63.02 per 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.

The Commerce Ministry 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, and 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.

UNI