With traders out of cash, the Agriculture Produce Market Committees (APMCs) in Nashik and Lasangaon have remained shut for two days in a row. The centre’s decision to demonetise Rs 500 and Rs 1,000 notes has hit farmers and traders hard as a majority in the state are unable to pay cash in lower denominations for farm produce.
The APMCs are expected to remain closed until Sunday. Traders are hoping to resolve the issue in a meeting on Saturday in Lasangaon. “As per our Act, the amount for agricultural produce must be paid within 24 hours. With no cash in the market, traders themselves decided to stop business,” said Nanasaheb Patil, director at the Lasangaon APMC.