January 25: Farmers in Bumthang are preparing their fields to plant potatoes. But they have a problem. They need to borrow money from the Bhutan Development Finance Corporation Limited (BDFCL) to buy seeds and fertilizers. Many will have a tough time getting the loan because they could not repay the loan they have availed last year due to the low price at the auction yards.

294 farmers from Bumthang have availed seasonal loans last year from BDFC. And today some of them can be seen visiting the BDFCL office to pay back the loans. They avail the seasonal loans to buy seeds and fertilizers.

Some farmers have borrowed money from their friends to repay the loans while others are contemplating seeking help from relatives. Some six farmers come to the BDFC office everyday.

Tshering Dorji, the BDFCL branch manager, said they have recovered about Nu. 3 million so far. They have given over Nu. 7 million as seasonal loans last year. The farmers have to clear the loans. Otherwise they will not get loans this year.

“If they fail to repay the loan, then we forward the case to the court and even if they fail to abide by the court verdict, then the last option is to seize their mortgage, that is land,” said the Branch Manager.

And that is the last thing a farmer can think of. But last year because of the low price in the auction yards, most of the potatoes have remained unsold. They are now being used as cattle feed.

32-year-old Sonam Peldon is from Nashphey. She is feeding potatoes to her cattle like other farmers.

“Last year we didn’t get a good price. I didn’t take the smaller potatoes to the market. Even the bigger ones fetched very low price,” said Sonam Peldon.

Potato is the only source of income for Sonam and her family. She has around 10 sacks of potatoes in her house. They will all be fed to the cattle. . Sonam has to pay back about Nu. 13,000 to BDFCL by the second week of March.

“I don’t have the money but some people owe me money, with that I hope to clear the loan, I think it will be enough. Otherwise I have no option but to borrow,” she said.

48-year-old Phurba Wangmo is from Wangling village in Choekhor geog. She is preparing her field for this season. She had availed a loan of Nu. 20,000 from BDFCL. She had to use the money she had earned from selling Cordyceps to repay the loan.

Most farmers were not able to recover even the production cost last season. All they can do now is pray for a better price this year.