Fruits Market News

Agri Market Prices: Orange- Oranges, bananas prices dropped by 30% in Hopcoms shops

Bengaluru: In Hopcoms stalls Prices of oranges and bananas dropped by about 30% on 17 December after rates were fixed in last week for the benefit of farmers and consumers.

"Our head office fixed reasonable rates due to rise in production of bananas by 20-25% and oranges by 15% this year," said Krishna, Hopcoms MD Bellur.

He also explained that why the rate was fixed. He said "In the open market, sellers are buying bananas for Rs 4 per kg, resulting in loss for farmers. We (Hopcoms) buy at Rs 8-9 per kg from farmers, keeping their profit in mind, and then sell them at a cheaper price to make them affordable for consumers. After the rate was fixed last week, prices started coming down."

He added "This year, we haven't allowed interference of middlemen and bought oranges directly from farmer organizations in Nagpur. The fruits have been produced in bulk, not only due to adequate rainfall but also because of subsidies given to farmers in Karnataka and Maharashtra by the central and state governments."

Source: http://timesofindia.indiatimes.com/