Glut On First Day After Maharashtra Farmers’ Strike Doesn’t Help Traders
Supplies of fruits and vegetables after seven days of farmers' protest were expected to bring relief to traders at the bulk farm produce market in Navi Mumbai. Only, it didn't.
Farmers demanding a loan waiver and higher support prices called off the strike in many parts of Maharashtra on Thursday. This led to a glut at the Agricultural Produce and Market Committee, and most of the supplies were either sold at throwaway prices or remained unsold.
“The market committee and the government are of no use. They did nothing for us or the farmers,” Yogesh Thosar, a vegetable seller, told BloombergQuint. Farmers' demand have not been met and they are trying to sell their produce in the cities again, said Thosar. “The strike was a failure.”
While the state government has agreed to a Rs 30,000-crore loan waiver for small and marginal farmers, there is no clarity on other details yet. The waiver will be implemented by October 31, Chief Minister Devendra Fadnavis had said.
Also Read: The Bounce In Agricultural Growth Is Missing In Farmers' Lives
Traders too bore the brunt of the protest. Dagrusheth Bhujbal, one such trader, procured Rs 4 lakh worth of vegetables from farmers. When nothing got sold for the right price, he sent the stock back to farmers, Bhujbal said. “I did not even make enough money to pay the trucks that carried these vegetables.”
The strike began on June 1 when farmers in Ahmednagar, nearly 270 kilometres east of Mumbai, stopped sending their farm produce to cities. Protests spread to other parts of the state, hurting supply of vegetables, fruits, and pulses, forcing the government to initiate negotiations.
“If farmers had to go on a strike, they should have carried it on until their demands were met. For now, things have only become worse for them and us,” said Abhishek Pal, another vegetable trader.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.