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INDIAN GOVT REVIEWS TEA MARKETING CONTROL ORDER.
NEW DELHI, July 1 Asia Pulse - The Indian government is reviewing the Tea Marketing Control Order (TMCO) to look into the feasibility of reintroducing the compulsory selling of 75 per cent tea through the auction system.
"Allowing the industry to sell tea without restrictions, outside the auction system, has not helped improve the price position of the commodity. Consequently, we are reviewing whether the mandatory sale through the auctions needs to be reintroduced," official sources told PTI.
"We are having a fresh look at the entire system, since our analysis shows sale through auctions has not resulted in a slump in prices in the 1st place," they added.
Industry is against any reintroduction of the mandatory clause and have suggested alternative reforms which are also being studied, ...
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