Karnataka's Mango Farmers to Receive Joint Compensation Amid Price Plunge

The central and Karnataka governments have launched an initiative to provide financial compensation to Karnataka's mango farmers facing reduced market prices. This comprehensive agreement, which emerged from a virtual meeting attended by key agricultural officials, targets a total of 2.5 lakh tonnes of mangoes, equivalent to a quarter of the state's production.

Discussions held on Saturday between officials, including Karnataka Agriculture Minister N Chaluvaraya Swamy, concluded with a decision that the compensation costs would be shared equally by the central and state administrations. This financial relief aims to bridge the gap between current market prices and the farmers' expectations.

The meeting also addressed a previous proposal concerning the falling prices of both tomatoes and mangoes. However, stabilized tomato prices negated the need for immediate action. The Union agriculture ministry confirmed that the difference in mango prices would be compensated under a central government scheme.

(With inputs from agencies.)