Budget promise fails to perk up coffee market
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Government yet to procure Robusta crop at MSP of ₹90 as announced in Budget
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Government yet to procure Robusta crop at MSP of ₹90 as announced in Budget
A month ago, Finance Minister T.M. Thomas Isaac announced in the Budget a minimum support price (MSP) of ₹90 for a kg of Robusta raw cherry, with the intention of supporting coffee farmers in the district. The announcement is yet to make any impact in the coffee market, according to Prasanth Rajesh, president, Wayanad Coffee Growers Association (WCGA).
The market price of raw coffee berries on Saturday in Wayanad was ₹65 a kg as against ₹68 a kg during the corresponding period last year. The price for the commodity was ₹63 a month ago and the slight increase in price was in proportion to an increase in the international price of the produce, Mr. Rajesh said.