Post Leads  |
Govt mulls fixing minimum benchmark prices for different Tea grades
Commodity Online | June 19 2019
UPDATED 18:28:03 IST

Cotton prices may fall further on higher production, weak demand: report

Indonesia Palm Oil production up 14% in Jan-Aug

India Rice prices continue downtrend on subdued demand

Groundnut procurement in Gujarat to begin from Nov 1

India's Cotton production may reach 29.3 million bales in 2019-20: report

The commerce ministry's Tea Board is considering an industry demand for setting up minimum benchmark prices for different grades of tea leaves, an official said.

Indian Tea Association (ITA) has demanded that the government should set up minimum benchmark prices for different grades of tea leaves to promote growth of the sector and push exports.

"Tea Board and ITA is in discussions over the issue. The demand is reasonable," the official said.

According to the industry, implementation of the demand would help tea companies to deal with the cost-disparity problem, which is impacting the sector.

The benchmark price is based on tea production and previous months auction rates.

As per the proposal of the industry, various grades of tea should not be sold below certain prices set by the board.

India exported tea worth Rs 5,132.37 crore in 2018 as against Rs 4,987.59 crore in 2017.

The main export markets for India are Iran, China, UAE, Pakistan and CIS countries like Armenia, Belarus, Kazakhstan, and Kyrgyzstan.

Tea production saw a decline across the country during January this year at 13.96 million kg compared to 17.68 million kg in the corresponding period a year ago.

South India contributed to the entire produce of 13.96 million kg in January, comprising 7.81 million kg by big growers.

The Tea Board is functioning as a statutory body of the central government under the Ministry of Commerce.

It is constituted of 31 members (including Chairman) drawn from Members of Parliament, producers, traders, brokers, consumers, and representatives of governments from the principal tea producing states, and trade unions. It is reconstituted every three years.-PTI


Commodity Arrivals Rate
Mustard Oil 9.32 10300.00
Coconut Oil 1.5 18500.00
Arecanut 2 21000.00
Sugar 506 3342.00