In Kashmir, the apple sector is currently experiencing a downturn, with market prices for apples plummeting. This decline has placed financial pressure on numerous traders and growers, particularly those who have utilized Controlled Atmosphere (CA) storage facilities. Around 400,000 crates of apples, stored during the months of November and December with the expectation of selling them at higher prices later, remain unsold in CA storages across south Kashmir due to unexpected market shifts.
The decrease in apple prices at outstation mandis has led to significant financial losses for those invested in CA storage, a technology that prolongs apple shelf life. The industry attributes the drop in prices to an oversupply of apples from international markets, including Washington and Iran. Mohammad Amin Pir, President of Fruit Mandi Shopian, highlighted that the industry has suffered substantial financial losses, with the price decline pushing cultivators and traders into severe debt. Mohammad Ashraf, a leading apple grower and trader, pointed out the challenges in covering CA storage costs, with apple crates selling for Rs 1000 to Rs 1100, and CA storage charges ranging from Rs 500 to Rs 600, leaving growers with a narrow margin.
[ Rs 100 = €1.10 ]
Source: greaterkashmir.com