Bounty for tractor makers as farmers benefit from open-market sale of wheat

The bounty earned by farmers from the sale of wheat in the open market to private traders has given tractor makers in India one more reason to cheer.

Farmers used the proceeds from the windfall to purchase tractors, leading to a sharp 44 per cent spike year-on-year (YoY) in the first two months of the April-June quarter — the highest in four years for the comparable period — reveals the data from the Tractor and Mechanization Association.

Farmers may have earned an additional Rs 5,994 crore this year.

They achieved this by selling their wheat crops to private traders at higher rates rather