The issue of fluctuating market prices was clarified by Minister for Agriculture, Rural and Maritime Development, Waterways and Environment, Hon. Dr. Mahendra Reddy to farmers of Taveuni during his consultative tour on the island.
This followed numerous concerns raised, particularly by Taveuni dalo farmers, on the current decreased market price of the commodity being paid out to farmers.
Minister Reddy elaborated that the Ministry of Agriculture could not impose or set regulations for price control as the Government could not set limits over certain commodities as these were subjected to market demands as part of the free market scenario.
“Currently, the Government cannot set the minimum buying price for a commodity and neither can we set the maximum selling cap for an agricultural commodity, that would be an unfair practice and would, simply put, have drastic effects on the national economy,” he said.
“It is to be expected that the price of dalo will decrease significantly because there is an influx of the commodity here on the island and the market is flooded, as an outcome, the price of dalo will decline,” Minister Reddy added.
He also encouraged farmers to not be disheartened with fluctuations in price as it would normalize in time.
“You shouldn’t worry too much about the seasonal fluctuation of these prices because definitely, it will normalize soon enough; and Government’s perspective, we shouldn’t interfere in the market, we let the reigns be in your hands, between the farmers and the market, you decide what the price should be, that’s the market rule – invisible hand,” Minister Reddy elaborated.
Farmers were, however, advised to continue planting dalo year-round to offset the fluctuating seasonal prices and to ensure a consistent supply of produce to the market.
Minister Reddy elaborated on the issue of pricing while meeting with Haridaya Enterprises Private Limited managing director Uma Sapra and the company’s employees, farmers of Welagi and Lagiloa, Delaivuna Settlement and Salialevu Estate in Taveuni.
He concluded his two-day tour of Taveuni yesterday visiting farming projects, commissioning development projects and holding consultative discussions with farmers on the island.