In a significant boost for chilli farmers, the government has introduced a Market Intervention Scheme, wherein the price of chilli has been fixed at Rs 11,781.25 per quintal. This price-setting measure aims to alleviate the financial burden on farmers who have recently experienced plummeting prices for their produce.

Vinod Giri, Deputy Commissioner of the Union Agriculture Department, communicated this development through a letter to the Special Chief Secretary of Agriculture. Notably, the selling price will be determined by a committee led by the Principal Secretary of Agriculture. The intervention price has been established as 25 percent of the selling price, which underscores the structured approach to ensure fairness and stability for farmers in recognized APMC (Agricultural Produce Market Committee) mandis.

The scheme is set to be enacted for a month from the date of the first transaction, with a collaborative funding model where both the central and state governments will each cover 50 percent of the market intervention costs, thereby shielding farmers from financial losses.