A day before polling for the Assembly elections in Maharashtra on November 20, soybean prices at Latur mandi was quoted at ₹4,200 per quintal, 14 per cent below the government-mandated minimum support price (MSP) of ₹4,892, according to data from agmarknet.gov.in.
Akola saw desi cotton fetching ₹7,396 per quintal, barely covering the MSP of ₹7,121 for medium-staple cotton. Onion at Lasalgaon wholesale mandi was being sold at ₹4,000 per quintal on November 19, a steep 26 per cent fall in under three weeks.
Falling prices of major agricultural commodities was hitting farmers hard in rural Maharashtra, leading many to predict a backlash against the ruling Mahayuti alliance in the Assembly polls. Similar agrarian discontent had played a key role in the alliance's losses during the Lok Sabha elections earlier this year.
Yet, the election results defied expectations.
This story is from the November 25, 2024 edition of Business Standard.
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This story is from the November 25, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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