KOZHIKODE: The coconut farmers are getting cheques instead of cash from traders at the Vatakara coconut market. This has caused great inconvenience to those who wish to buy essentials for their daily needs as they can't afford to go and stand in queues at the respective banks. The market, famous for several varieties of copra, including Rajapur, has virtually come to a standstill following demonetisation.
"We have no currency here. Only Rs 50,000 can be withdrawn from current account per week," says Mr P.M. Hareendran of PMH Traders. A few traders are giving slips after writing the amount over it on the condition that currency will be given when it is available. At Adakatheru wholesale market, traders are giving cheques for amounts above Rs 2,000.
Mr Abu Nazar, a coconut trader at Kuttiady, rues that he cannot give cheques to agrarian families from where he collects coconut. "The majority of the people at Kuttiady, Thottilpalam, Maruthonkara are farmers. They buy things out of the money they get from selling coconuts," he says. "Normally, a farmer from Thottilpalam comes to Vadakara with coconut, pepper, rubber or other produce and gets money after selling them. The stagnation in the agrarian market has affected the entire region," notes Mr P.M. Balan, Vadakara area secretary of Kerala State Karshaka Thozhilali Union (KSKTU).
Traders say that over 1,000 sacks of dry coconuts are being dumped at Vadakara as there is no demand from North Indian markets. "After demonetisation, there is no call from those markets," says Mr Alavi, a coconut merchant. Mr K. Sumesh, a young farmer from Tuneri, says he will have to spend a whole day to go to the bank and encash the cheque.
