Tamil Nadu - Tiruchi   

Banana auction centre, a boon to farmers, traders

TIRUCHI: The Tiruchi Agricultural Producers’ Cooperative Marketing Society has set up a banana auction centre on Pettavaithalai Primary Agricultural Cooperative Bank premises recently. The centre will immensely benefit banana cultivators of Srirangam and Tiruchi areas since it will facilitate in ensuring a competitive price for their produce.

Bananas brought by farmers were being auctioned at the new centre on every Tuesday. Thanks to initiative taken by the society, a large number of traders from various parts of Tiruchi and surrounding districts participate in the auction. The Society collects five per cent commission from the selling price. The main advantage of the facility is that the traders have to remit the fixed auction amount instantly to the society, which in turn would hand it over to the farmers after deducting the commission.

The auction centre has proved a hit with both the traders and farmers. In the last two weeks, the auction attracted good number of farmers and traders, a cooperative department official told The Hindu.

The society extends adequate protection to paddy stocked either in their individual houses or common rural godowns or godowns set up at the premises of primary agricultural cooperative banks. This apart, a crop pledge loan equivalent to 70 per cent of the value of the produce stocked was being sanctioned. The loan facility would prevent farmers from selling the produce at a throwaway price due to economic crisis.

As and when the prices of agricultural produce shoots up, in commensuration with the cost of cultivation and other labour charges, the society makes double-pronged arrangement for facilitating prompt marketing of the produce.

The farmers were free to clear the loans before selling the produce, or authorise the society to market the produce, according to the special officer of the Society, S. Vinoba.

With due consent from farmers, the society also ensures the sale of the produce either through direct auction or on commission basis.

The society has been providing essential commodities to the city residents through 20 fair price shops and a kerosene pump run by it. It introduced a jewel loan scheme last month, the special officer said adding that it has been planned to disburse jewel loan to the tune of Rs. 2 crore during the current financial year.

The society has also been marketing cell phone recharge coupons.

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