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Profits from rising onion prices helps Maharashtra farmers buy 250 tractors in a single day
Double digit decline in auto sales may have dampened the festive mood but farmers from Kalwan, Nashik have made the best of the rising onion prices.
Major automobile makers have reported double digit declines in domestic passenger vehicle sales but this hasn’t stopped onion farmers in a Maharashtra tehsil from buying as many as 250 tractors in a single day.
The purchase happened on the first day of Navratri, despite the onset of the festive season failing to lift the ongoing slump in the auto industry.
Some farmers in Kalwan taluka of Nashik district earned so much by selling onions that they purchased as many as 250 tractors on September 29, a tractor buyer said.
Onion prices which ranged between Rs 100 to Rs 500 per quintal in the last five years shot in the range of Rs 2,000- Rs 4,000 for around two months this year. This earned rich dividends for farmers in tribal Kalwan taluka, a major onion growing region in the district.
In addition to the 250 tractors, 21 cars and around 400-500 two-wheelers were also sold on the same day, an automobile dealer said. It resulted in transaction of Rs 30 crore in a single day, and around 70 per cent of this purchase was in cash.
As the number of vehicles purchased was large, senior officials of some automobile companies reached Kalwan and the vehicles were handed over to the farmers in a ceremony.
Turbans were tied to the farmers by the officials and a procession of these customers was also taken out.
