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LATEST NEWS UPDATES | The perils of deregulated imperfect agrimarkets -R Ramakumar

The perils of deregulated imperfect agrimarkets -R Ramakumar

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published Published on Dec 1, 2020   modified Modified on Dec 1, 2020

-The Hindu

The Farm Acts were legislative misadventures, while much more is needed to address the genuine fears of farmers

The eruption of massive farmers’ protests across India against the Farm Acts has shocked those in the seat of power in Delhi. According to the government, many private markets will be established, middlemen would disappear, farmers would be free to sell to any buyer and farmgate prices would rise. But the protesting farmers do not accept these claims. They believe that farmgate prices would fall with the intensification of a corporate presence in agricultural markets. They also believe that the government, ultimately, wants to phase out the Minimum Support Price (MSP) system.

Let us look at the major claims and their merits. Due to space constraints, the focus here will only be on the Farmers’ Produce Trade and Commerce (Promotion and Facilitation) Act, 2020 (FPTC Act).

More mandis needed

An important assumption behind the FPTC Act is that mandis controlled by Agricultural Produce Marketing Committees (APMC) are monopsonies in rural areas. This assumption itself is specious. First, official data show that even for paddy and wheat, respectively, only 29% and 44% of the harvest is sold in a mandi, while 49% and 36% is sold to either a local private trader or an input dealer. In other words, de facto, a large proportion of Indian harvest is not directly sold in a mandi.

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The Hindu, 1 December, 2020, https://www.thehindu.com/opinion/lead/the-perils-of-deregulated-imperfect-agrimarkets/article33216046.ece?homepage=true


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