Karnataka: Skyrocketing onion costs helps make personal debt-strapped farmer crorepati | Report

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The skyrocketing onion price which includes made the buyers cry, on the flip side made an onion grower Mallikarjun of Doddasiddavvanahalli in Chitradurga region, Karnataka a crorepati within one-month time. The 42-12 months-old financial debt-strapped farmer had sowed onion plant seeds after having a bank loan. In a current mass media meet with, the farmer claimed that he experienced used the bigger chance among all.

Talking with the Times of India, Mallikarjun claimed that he might have acquired captured in bad financial debt in the event the crop experienced unsuccessful or the prices had removed straight down. Nonetheless, he was delighted the onions have altered the fortunes of his family. He had reaped a bumper crop of 240 tonnes of onion using the cost auto racing towards Rs 200 per kg.
Mallikarjun had spent Rs 15 lakh, expecting a profit of Rs 5-10 lakh, but he strike a jackpot. He has now turn into a celeb among farming sectors of his locality pursuing the document. “We have cleared my debt and that i am planning to build a residence. I want to purchase more property to expand the agricultural work in the coming years,” he advised the daily.
The document added that the farmer who already owned 10 acres of property, has bought another ten-acre to cultivate onions. He has even employed 50 laborers. Mallikarjun has been growing onions since 2004. A year ago he experienced created a revenue of Rs 5 Lakh.
Revealing about his battle, Mallikarjun additional that October, in particular, had been a stressful period for Mallikarjun as onion costs stayed lower. The onion price discovered a increase from Rs 7,000 per quintal to RS 12,000 within one week in November. He additional that he along with his family members get transforms to safeguard the crop against thieves.&nbsp

On the other hand, increasing onion prices have triggered an uproar among people over the nation.

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