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LATEST NEWS UPDATES | Cash drought shadow: Distress sale of paddy -Hemant Kumar Rout

Cash drought shadow: Distress sale of paddy -Hemant Kumar Rout

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published Published on Nov 26, 2016   modified Modified on Nov 26, 2016
-The New Indian Express

BHUBANESWAR: Gopal Krushna Panda was happy to hear the announcement on demonetisation of higher currency notes with a hope that the black money will be wiped out. But his happiness was short-lived as the currency crisis gripped the nation.

A native of Gopalpur village in Balasore district, Panda requires at least Rs 40,000 to harvest paddy from his 10 acres of agricultural field. While the paddy has already started falling from panicles, he is unable to arrange the amount and engage workers for harvesting.

“I had kept around Rs 20,000 of old denominations for the purpose and planned to withdraw rest amount from bank. But I had to deposit it after the currency ban. Now I am unable to withdraw the amount. The bank is denying to give me Rs 20,000 at a time. I fear I would lose at least 25 per cent of paddy if I fail to harvest in one week,” he said.

November and December are paddy harvesting months in the State. This year, it is delayed by a fortnight due to rain in October. So far, about 20 per cent has been harvested.

The farmers will have to use manual workers for cutting and shifting paddy straws to their houses.  “For this, we need cash. While a male worker charges Rs 300 per day, female workers demand Rs 250. I do not have sufficient Rs 100 notes. I stood in queues before an ATM and a bank for two days and withdrew Rs 12,000. While the bank gave me four Rs 2,000 notes and twenty Rs 100 notes, the ATM delivered one Rs 2,000 note. The Rs 2,000 notes are of no use since the workers are not willing to take and demand small exchange,” said another farmer Dinesh Patra from Basudevpur of Bhadrak district.        

The demonetisation has also forced the farmers to resort to distress sale of old paddy stock to get money for harvesting kharif crop. They are selling paddy at Rs 400 to Rs 500 less than the MSP of Rs 1,470 per quintal for common variety of paddy and Rs 1,510 per quintal for Grade-A variety of paddy.   

“We are selling the paddy to traders from West Bengal and Andhra Pradesh at Rs 900 to Rs 1,000 per quintal to those who are paying us in Rs 100 denominations,” said Saroj Kumar Dash, a resident of Talapada village.


The New Indian Express, 25 November, 2016, http://www.newindianexpress.com/states/odisha/2016/nov/25/cash-drought-shadow-distress-sale-of-paddy-1542458.html


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