Tamil Nadu government announced Price Stabilization fund for green tea leaf
Tamil Nadu Government announced a Price Stabilisation Fund for Green Tea Leaf with a corpus of 12 crore rupees.
Tamil Nadu Government on 26 September 2014 announced a Price Stabilisation Fund for Green Tea Leaf with a corpus of 12 crore rupees.
Besides, the government announced a support price of 2 rupee per kg for green tea leaf will be given to small tea growers from the fund.
The Tamil Nadu Government will contribute 8 crore rupees and Tamil Nadu Small Tea Growers Industrial Cooperative Tea Factories Federation Ltd (INDCOSERVE) will pitch in with 4 crore rupees towards the corpus for 2014-15 fiscal year.
Every year, INDCOSERVE will give 75 percent of its profits from the sale of Ooty tea and the rest will be provided by the State government to price stabilisation fund.