Tiruchirappalli (Tamil Nadu) [India], March 14 : Banana growers were left concerned on Saturday with a sudden fall in Nendran banana prices in Tiruchirappalli and are now demanding government intervention to address the issue and support their livelihood.
Banana Farmer Rajendran said that several farmers fear that, due to the sudden crash in prices, those farmers who have pledged their valuables in private banks might be able to redeem them next year. He urged the government to provide compensation.
"Many farmers had pledged household jewellery in private banks, hoping to repay the loans with the profits from this season's harvest. However, due to the sudden crash in prices, they are now unable even to pay the interest and fear they may only be able to redeem their pledged valuables next year. We urged the government to provide compensation to banana farmers affected by the price fall. Government could procure bananas directly from farmers and sell them to neighbouring states to prevent further losses," he said.
Banana farmer Damodaran expressed his shock, saying the income from sales is far below the cost of cultivation. He noted that the farmers are unable to recover basic expenses with the current market price.
"The sudden fall in prices has come as a major shock for banana growers... Farmers in areas such as Vayalur are currently harvesting their crops and sending them to markets, but the income from sales is far below the cost of cultivation... The cost of cultivating bananas has risen to nearly Rs 2 lakh per acre, including expenses for fertilisers, pesticides, support poles and labour. With the current market price, farmers are unable to recover even these basic costs, leading to heavy financial losses," he said.