Dubai: When Mallikarjuna, a poor Indian farmer, took a bank loan of Rs1.5 million (Dh78,000) and sowed onion seeds, he thought he was taking the biggest risk in his life.
But little did he know that his investment in the crop would turn him into a muti-millionaire. The debt-ridden farmer reaped a bumper harvest of 240 tonnes of onions — just as the price per kilogramme hit Rs200 in the south. Mallikarjuna, who hails from from Doddasiddavvanahalli of Karnataka, has become a celebrity in farming circles.
According to reports, the farmer’s journey has not been a smooth one. Until October, he was under a lot of stress as the price of onions had stayed low. Mallikajuna said that when he sold the crop in the first week of November the price was around Rs7,000 for 100 kilos but in a few days, it touched Rs12,000.
Also, Mallikarjuna and his family members had to take turns to guard the harvest from onion thieves. Going by Rs200 a kilo, he would have made Rs48 million (Dh 2.5 million) for 240 tonnes.