Agricultural Marketing and Agri Business Department officials have urged farmers to utilise the newly-constructed godowns at the regulated market in Melur, ahead of the paddy harvest season.
According to a press release from Madurai Market Committee Secretary V. Mercy Jeyarani, a godown with a 1,000 metric tonne capacity and a second godown with a 2,000 metric tonne capacity was inaugurated at the regulated market in October.
Farmers can store their produce at the godown for a nominal charge and sell their produce when the prices rise in the open market.
Ms. Jeyarani said that both farmers as well as traders can mortgage their produce and avail of pledge loans from the regulated market. Farmers can avail of loans for up to ₹3 lakh for an interest rate of 5%. Traders can avail of loans for a maximum of ₹2 lakh for an interest rate of 9%, she added.
Also, interested farmers can bring their produce to the regulated market to be sold through indirect auctioning. Currently, coconuts are sold through indirect auctioning at the regulated market in Melur every Thursday.
So, farmers must efficiently utilise these facilities present at the regulated market during the harvest season, the release said.
