The Tea Board that comes under the ministry of commerce is mulling over setting up minimum benchmark prices for different grades of tea leaves.
According to a report, the 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.
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The tea industry feels that when implemented it would help tea companies to deal with the cost-disparity problem.
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.
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