Farmers in the Punjab region of India are increasingly turning to banana cultivation as a more profitable option to traditional crops.
Since it was first introduced across ten acres (4.05ha) in 2006, banana farming has expanded to 300 acres (121.41ha) today and is expected to grow even further.
Banana Growers Association President Mewa Singh told Thaindian.com that he started growing bananas in 2007 and since then his profit margin had quadrupled.
“I earn a minimum of Rs150,000 (US$3,278) per acre every year and it can go higher. If the market rates remain as good as they are at the present, I believe we will be able to make an income of over Rs200,000 (US$4,371) per acre,” he said.
Growers in the region are provided with the most suitable varieties from the Punjab Agricultural University, and the type of banana grown in Punjab is very similar to those farmed in Maharashtra and Andhra Pradesh.
Almost US$120m worth of bananas are consumed each year in Punjab, making the domestic market alone a huge incentive for growers.
The fact that bananas were recently included in India’s National Horticulture Mission, meaning growers are entitled to a government subsidy of up to 50 per cent for plants and irrigation, is further enticement for farmers.
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