Farmers facing Rs36,000 crore loss, claim unions – Livemint

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.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 (AIKSCC), a coalition of over 180 farmer unions, said.The AIKSCC numbers on loss to farm incomes were arrived at after a comparison of average wholesale prices in mandis (regulated farmer markets) and MSPs announced by the centre. The analysis was done for seven major kharif (summer) crops—paddy, maize, bajra, soybean, groundnut, cotton and urad—by taking into account market arrivals and a weighted average of modal prices in major growing states.

Source: Farmers facing Rs36,000 crore loss, claim unions – Livemint