Financial Daily from THE HINDU group of publications
Tuesday, Jul 16, 2002
Financial Daily from THE HINDU group of publications Tuesday, Jul 16, 2002 |
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Agri-Biz & Commodities
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Rubber Rubber procurement norms amended Our Bureau
THIRUVANANTHAPURAM: The State Government has notified amendments to the guidelines for procurement and export of rubber. An official spokesman said that changes incorporated in the norms required that the prescribed agencies shall procure the commodity only after market prices dip to lower than what has been fixed by the Centre as support price. The Centre would be bound to pay for the loss, if any, suffered in the procurement operations or of subsidy, as may be applicable, only to the extent that this norm has been strictly adhered to.Besides, the agencies concerned should ensure that no export commitments result from procurements at above the prescribed support price. In a separate announcement, the spokesman said that the Infarm Agro Movement (Infarm) has been allowed a subsidy of Rs 3.50 for every kilo of rubber exported. This will be applicable to procurements executed at the price notified by the Centre and completed after the new special package became operational.
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