In the two weeks to 7 November, farmers have incurred a loss of Rs6,283 crore, having sold crops at lower than their support price, the All India Kisan Sangharsh Coordination Committee said. Photo: MintNew Delhi: With major crop prices plunging below minimum support prices (MSPs), farmers are likely to lose an estimated Rs35,968 crore in earnings for the kharif season, a coalition of farmers’ organizations said on Thursday. After four droughts, farmers have been hit by three successive seasons of low crop prices, the coalition said in a statement. The estimates, it added, are conservative as the actual prices at which farmers are selling their produce are often lower than official wholesale prices. Assuming an MSP at 50% over costs, farmers will lose an estimated Rs2 trillion going by current mandi prices, the coalition said.

Source: Mint November 09, 2017 18:11 UTC