Nation Other News 12 Nov 2016 Demonetisation: Anot ...

Demonetisation: Another crisis for rubber farmers

DECCAN CHRONICLE. | ABHISH K BOSE
Published Nov 12, 2016, 2:36 am IST
Updated Nov 12, 2016, 6:47 am IST
The rubber dealers and rubber marketing societies do not have smaller denominations to pay rubber farmers
Rubber
 Rubber

KOTTAYAM: The rubber farmers of the state, who are already reeling under low prices, are facing another crisis as most traders are staying away from the market for the past two days due to the shortage of currency notes after the demonetization of Rs 1,000 and Rs 500 notes. The rubber dealers and rubber marketing societies do not have smaller denominations to pay rubber farmers. The issue has cut across the district as the rubber production societies, rubber dealers and cooperative societies are complaining that their trade has been affected from Wednesday and many rubber farmers are returning without selling their commodity.

K.C. Joseph, secretary of the Pala rubber marketing society told DC that at least 15 farmers have returned without selling the rubber sheets.    “Most of us do business with cash bundles mainly comprising Rs 1000 and Rs 500 notes. Due to the demonetization we were not able to take the commodity”, Mr. Joseph said. P.K. Radhakrishnan Nair, assistant secretary of the Changanacherry cooperative rubber marketing society, told DC that they had given a receipt to rubber farmers and had assured them that they would give the money when the bank gave it. “We used to give the payment on the spot”, Mr. Nair said.

 

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Location: India, Kerala




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