While high onion prices making a hole in consumer’s pocket, a Karnataka farmer became crorepati even after repaying all his debt because of bumper onion production.
The skyrocketing prices of onion have brought huge windfall to Mallikarjuna, a farmer in Doddasiddavvanahalli in Chitradurga district of Karnataka in a month’s time, said a report in the Times of India.
The 42-year-old debt-ridden farmer, who sowed onion seeds after taking a loan, said that it was the biggest risk he had taken so far. “I would have got caught in a bad debt if the crop had failed or the prices had crashed. But onions have changed the fortunes of my family now,” Mallikarjuna told the publication.
Mallikarjuna reaped a bumper crop of 240 tonnes of onion (around 20 truckloads) while the price is quoting over Rs 100 per kg. The farmer invested Rs 15 lakh, expecting a profit between Rs 5-10 lakh. But he hit a jackpot. Mallikarjuna is now a celebrity in the farming circles in Chitradurga, 200km from Bengaluru.
“I have cleared my debt and I am planning to build a house. I want to buy more land to expand the agricultural work,” the publication quoted Mallikarjuna as saying.
Mallikarjuna, who owns 10 acres of land, took another 10 acres on lease to grow onions. He also hired around 50 labourers. Since 2004, Mallikarjuna has been growing onions in rainy season. His profit last year was around Rs 5 lakh. Mallikarjuna availed a loan of Rs 20 lakh to lease out additional land and pay for expenses this year.
“Unfortunately, I incurred huge losses. But I took another loan of Rs 5 lakh and used my savings to grow onion,” Mallikarjuna said.
Mallikarjuna and his family take turns to guard the crop from onion thieves.
Source : Times Now0