Indian farmers in the western state of Maharashtra held back farm produce in the province for a third day on Saturday, despite the state's assurance that it would waive loans held by defaulting farmers with small tracts of land and low incomes. Maharashtra farmers want Chief Minister Devendra Fadnavis' government to take steps to boost farm incomes and output including waiving all agricultural loans, similar to the $5.6 billion in debt forgiveness announced in April by India's most populous Uttar Pradesh state.
Prices of vegetables and milk have jumped more than 50 percent in major cities such as Mumbai and the information and technology hub of Pune after farmers cut supplies from Thursday.
Maharashtra, India's second most populous state, is the country's second-biggest producer of sugar, cotton and soybean. A small fraction of farmers union called off the strike Saturday following a four-hour long meeting with Fadnavis. The government would waive the debt of marginal farmers who defaulted in the last few years, Fadnavis said, adding a panel would be set up to find ways to implement the waiver.
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