Indian farmer becomes millionaire as tomato price hits record

AN Indian farmer has become a millionaire by selling his bountiful yield of tomatoes for Rs 30 million (£282,478) in just over a month as prices hit record in the country.

Ishwar Gaykar (36), from Pachghar village in Pune, Maharashtra, faced a difficult decision of dumping a large quantity of harvested tomatoes in May this year due to low prices.

However, he continued to exhibit unwavering determination and work tirelessly on his 12-acre farm to cultivate tomatoes.

Now, amid the skyrocketing prices of tomatoes, Gaykar's hard work has paid off handsomely, transforming him into a millionaire after selling his crop yield between June 11 and July 18.

Gaykar said during the period, he sold 18,000 crates of tomatoes (each crate comprising 20 kg of tomatoes) at the agricultural produce market committee (APMC) at Narayangaon.

He aims to earn another Rs five million (£47,080) by selling the remaining 4,000 crates.

"I have an 18-acre farm where I cultivate tomatoes on 12 acres. I have sold 18,000 crates since June 11 and have so far earned Rs 30m," said Gaykar.

The price of tomatoes increased from Rs 38 per kg (36 pence) to Rs 110 per kg (£1.04) in one month's time in the country.

According to Gaykar, the total input cost of cultivation, including transportation, was Rs four million (£37,664).

"This is the best of times for the tomato growers, but we have witnessed worst times also. In May, I grew tomatoes on one-acre land, but had to throw away large quantities of the produce as the prices were very low. I had thrown the produce away as the per crate rate was just Rs 50 (47p)

He added that in 2021, he incurred losses worth over £14,000 and last year also he just earned a narrow profit margin.

He said, "I took good care of the produce even in the scorching May heat. Due to the high temperatures, tomato cultivation in other parts took a beating, but farmers like me benefitted as we continued to work hard."

Another farmer, Raju Mahale, who earned more than £18,000 by selling 2,500 crates in the current season, said he was also jittery about tomato cultivation after May as the per acre input cost was around £3,300.

Trader Akshay Solat, who purchased Gaykar's produce, said as there was a boom in the market again.

"I have been in this trading business for the last 15 years, but I have never seen such a boom in the tomato market. Once there was a rate of £15 per crate, but such price-wise consistency in the tomato market was never witnessed," he said.

He, however, said only a handful of farmers have earned handsomely this season, including farmers from Pachghar, Otur, Ambegavhan, and Rokdi regions in the state.

Narayangaon APMC chief, Sanjay Kale, said since the production of tomatoes has taken a beating in north India, traders from other states come to the market in Narayangaon to purchase the key kitchen staple.

(PTI)