Coffee growers seek relief package from Centre

Reeling underneath the impact of erratic local climate, weak rates and growing output prices, coffee growers have sought relief steps such as fascination waiver and restructuring of all loans from the Centre.

In a digital presentation to the Finance Minister Nirmala Sitharaman on Friday, reps of growers associations and Coffee Board chairman described the present-day crisis faced by the sector and sought the Centre’s intervention. The Covid lockdown has only aggravated the crisis in the sector, exactly where the price realisations are in tandem with the worldwide rates.

Seeking restructuring of all crop and development loan into a single term loan, growers urged the Finance Minister to contemplate a relief on the lines of Particular Coffee Phrase Mortgage package implemented all through 2002 by the NDA governing administration. They also urged her to lessen fascination rate on such loans to three per cent.

Additional, they also asked for the FM to repeal the 7B(1) of the IT Guidelines 1962 to inspire growers to take up benefit addition, aside from urging to lengthen incentive underneath MEIS plan until the proposed RODTEP plan is implemented.

Representatives of UPASI, Karnataka Planters’ Affiliation, MPs and MLAs of coffee increasing districts of Karnataka participated in the digital meeting. “The FM gave us a affected person listening to and we are optimistic that she will come back again with something concrete for the sector,” mentioned Karnataka Planters’ Affiliation chairman Shirish Vijayendra.