Cherupuzha: Banana growers in the region are facing a financial crunch as prices for banana bunches have tumbled sharply. Last year, a kilogram of bananas fetched ₹50 to ₹60, but this season, farmers are struggling to get even ₹30 in the same markets.

Traders attribute the steep price drop to an influx of bananas from other states into the high-range markets. In Karnataka, for instance, raw are being sold in the fields for less than ₹20 per kilogram . Vendors bringing in these crops argue that local farmers, by switching to high-yield seeds, have also seen a significant reduction in production costs and hence are not facing substantial losses.

Last year’s high prices had encouraged many farmers to turn to banana cultivation. However, the sudden slump in prices this season has dashed their hopes. Many growers, who had invested in the crop by taking loans or pledging valuables, now find themselves in financial crisis.