Thiruvananthapuram: Agriculture Minister Adv T Siddique announced that administrative approval has been granted for a ₹20 crore project aimed at ensuring price stability for agricultural produce, strengthening market intervention and securing fair prices for farmers in the state during Onam.

The objective of the scheme is to cushion farmers against losses caused by market price dips, guarantee fair returns for agricultural commodities and ensure consumers have access to quality products at reasonable rates. The funds under this scheme are allocated to cover expenses for procuring various agricultural produce directly from farmers and for organising Onam markets (fairs) across the state to curb price rises through market intervention.

As part of the initiative, ₹6.98 crore has been sanctioned for procuring agricultural produce through Horticorp, ₹2 crore for raw coconut procurement through Kerafed, and ₹10.24 crore for setting up Onam markets statewide. Additionally, ₹75 lakh has been allocated towards floor price support under the Kerala Farm Fresh Fruits and Vegetables scheme, and ₹2.82 lakh has been earmarked for the operational expenses of the Coconut Procurement Committee. To guarantee the timely and efficient execution of the project, the Minister informed that implementing agencies must submit quarterly progress reports, and the Department of Agriculture will ensure rigorous monitoring.

Notably, out of the total amount allocated to Horticorp during the previous financial year, ₹1 crore could not be utilised due to the end of the financial year. That amount was sanctioned in advance for this year, over and above the ₹6.98 crore that has now received administrative approval.

The Minister added that this market intervention scheme will prove vital in offering farmers a lucrative market for their produce during Onam while ensuring consumers can obtain vegetables and other agricultural commodities at fair prices.