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LATEST NEWS UPDATES | Don't make Punjab a junkyard for machines -Devinder Sharma

Don't make Punjab a junkyard for machines -Devinder Sharma

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published Published on Jun 2, 2022   modified Modified on Jun 14, 2022

-The Tribune

With policy-backing, subsidies and availability of easy credit, farmers are being pushed to buy more machines. Punjab has five times more tractors than required. As more technological gadgets and machines are promoted, farmers are increasingly sucked into a debt cycle, while equipment manufacturers are laughing all the way to the bank.

At a time when farmers across the world are struggling to recover their cost of production, an Oxfam report says 62 new food billionaires have joined the super-rich club in the last two years. The report, of course, talks of 12 billionaires in the Cargill family, up from eight before the pandemic, to have jumped into the opulent bandwagon.

Riding on high commodity prices, soaring food inflation, record land values and a succession of technological innovations, all in the name of increasing productivity, the profits of the food industry are soaring. While Oxfam (Great Britain) Chief Executive Danny Sriskandarajah says: “At a time when hundreds of millions of more people are facing extreme poverty, there can be no excuse for governments not to address gargantuan profits and wealth in order to ensure no one is left behind”, what remains unexplained is why the roaring profits that the food supply chains ended up with did not percolate to the primary producer, the farmer.

After all, four grain-trading companies, including global giant Cargill, control 70 per cent of the international food trade. We know that the farm commodities being traded globally are produced by millions of toiling farmers who eventually fail to make a good living. In other words, the wealth that farmers produce is very conveniently sucked from the bottom to the top. Otherwise, I see no reason why farmers too should not be earning profits.

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The Tribune, 2 June, 2022, https://www.tribuneindia.com/news/comment/dont-make-punjab-a-junkyard-for-machines-400155


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