Sale of second hand tractors at Kotkapura dips as farmers count their losses
The recent agrarian crisis has majorly affected the secondhand tractor market at Kotkapura in this district.punjab Updated: Sep 30, 2015 20:47 IST
Faridkot: The recent agrarian crisis has majorly affected the secondhand tractor market at Kotkapura in this district.
Every Sunday, around 500 tractors, most of them almost new, reach the market, but as the farmers have incurred debts following the cotton crisis, there are few takers. Whereas just two years ago, there was a good market of these tractors.
Those in the business claim that it is the worst phase in farm economy in two years because of the low yield of wheat last season, constant low yield and prices of cotton, huge loss to potato growers and now the whitefly attack on cotton and the poor returns from basmati.
“Farmers buy new tractors that are financed by banks, but unable to pay the loan, they sell them off, which are mostly bought by traders,” says Pargat Singh of Hari Ke Kalan village of Muktsar, who had brought his Swaraj and Ford tractors for sale.
“Two years ago, the situation was different as about 10 tractors were bought by farmers from around 30 sold every Sunday. But now we hardly find one or two customers. A farmer is ready to sell his tractor for Rs 5 lakh that he had bought for Rs 6.35 lakh only four months ago. But so far, there are no takers,” says Kaur Singh Maluka, who is into selling these.
Hardeep Singh from Khara says, “Farmers are badly in debt and they are trying to come out of the situation by selling their agricultural implements. The cotton on my six acres was damaged and basmati prices are too low this season. Owing to these problems, I am ready to sell my relatively new tractor, but there are no customers.”
“Most farmers have no money to buy a tractor. They are rather selling it but there are no takers. The situation was totally different two years ago when we were able to sell about 10 tractors. But now, till the afternoon, we have failed to find any customer. Maybe, as the day wears off, we are able to sell one or, at most, two tractors,” says Labh Singh, an organiser.
First Published: Sep 30, 2015 20:30 IST