India’s fabled farmers fear what new law may reap

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Updated 25 December 2020
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India’s fabled farmers fear what new law may reap

  • India's farmers fear that new agricultural laws introduced by Prime Minister Narendra Modi’s government will favor big corporations

FATEHPUR, India: Ram Singh Patel’s day starts at 6 in the morning, when he walks into his farmland tucked next to a railway line. For hours he toils on the farm, where he grows chili peppers, onions, garlic, tomatoes and papayas. Sometimes his wife, two sons and two daughters join him to lend a helping hand or have lunch with him.

Once home after sunset, he packs the cultivated crops in jute bags and cardboard boxes, ready to be driven by a trailer to a nearby wholesale market where the produce is sold.

This is the daily life of Patel, a 55-year-old generational farmer in India’s heartland state of Uttar Pradesh. The life is laborious and repetitive, but it is one of an unknown hero who, like millions of other small farmers, grows grain to feed India’s ever-growing population of more than 1.3 billion.

But of late, Patel has been a worried man. His earnings have started to fall. His kids don’t want to work on the farm. And he fears that new agricultural laws introduced by Prime Minister Narendra Modi’s government will favor big corporations that will push down prices and make family-owned farms unviable, eventually leaving millions like him landless.

“The farmers will survive this onslaught by any means,” said Patel, who supports Modi but opposes the new laws. “But the future generations will have no food because there will be no one to grow the grain. What will the prime minister eat then?”

HIGHLIGHT

The farmer’s life is laborious and repetitive, but it is one of an unknown hero who, like millions of other small farmers, grows grain to feed India’s ever-growing population of more than 1.3 billion.

India’s fabled farmers, often called “annadatta,” or “providers,” have long been seen as the heart and soul of a country where the agriculture industry supports more than half of the people. But farmers have also seen their economic clout diminish over the last three decades. Once accounting for a third of India’s gross domestic product, they now account for only 15 percent of the country’s $2.9 trillion economy.

Compounding their worries are the new laws that have stoked widespread anger among the farmers. Tens of thousands of them have besieged New Delhi for nearly a month and hunkered down with food and fuel supplies that can last weeks. They have threatened not to leave until their demands to abolish the laws are met.

The government says the new laws provide much-needed reform for the agricultural sector. It has tried to placate the angry farmers, but several rounds of talks to try to get them to end the protests have failed.

Many of the protesting farmers are from the northern states of Punjab and Haryana, two of India’s largest agricultural states. But the rumbles have now started to grow in other states too.

“Modi’s government is for the rich,” Patel said. “His government is forcing these laws on us.”

The laws have exacerbated existing resentment from farmers, who often complain of being ignored by the government.

“The common public is against these laws,” Patel said. “I don’t understand why the prime minister is not listening to them.”


Saudi Maaden reports 156% profit surge to $2bn on strong commodity prices, record production

Updated 05 March 2026
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Saudi Maaden reports 156% profit surge to $2bn on strong commodity prices, record production

RIYADH: Saudi mining and metals company Maaden has reported a 156 percent jump in its net profit attributable to shareholders for 2025, driven by higher commodity prices, record production volumes, and a one-off bargain purchase gain.

The state-backed giant posted a net profit of SR7.35 billion ($1.95 billion) for the full year 2025, an increase from SR2.87 billion in the previous year. The firm’s revenue surged by 19 percent to SR38.58 billion, up from SR32.55 billion in 2024.

This comes as Saudi Arabia steps up efforts to expand its mining sector as a pillar of economic diversification, encouraging international participation and private investment to unlock the Kingdom’s estimated $2.5 trillion in untapped mineral resources under Vision 2030.    

In a statement on Tadawul, the company said: “Performance was led by record phosphate production, near record aluminum production, an increase in all three of Maaden’s main output commodity prices.”

The performance was also fueled by a 60 percent increase in gross profit, which reached SR14.79 billion. In its annual results announcement, Maaden attributed the top-line growth to “higher commodity market prices for phosphate, aluminum and gold business units,” as well as increased sales volumes in its phosphate and aluminum segments. This was partially offset by slightly lower sales volume in the gold unit.

Maaden’s CEO, Bob Wilt, hailed 2025 as a transformative year for the company, marked by strategic growth and operational excellence. “This was a great year for Maaden’s strategic growth. We delivered strong financial results and sustained operational excellence across the business,” he said in a statement.

“This was driven by growth in production across all businesses, including record-breaking DAP (di-ammonium phosphatevolumes), disciplined cost control across and a clear commitment to our role as a cornerstone of the Saudi economy,” Wilt added.

Profitability was further bolstered by an increased share of net profit from joint ventures and an associate. This included a one-off bargain purchase gain of SR768 million related to Maaden’s investment in Aluminium Bahrain B.S.C. The company also benefited from lower finance costs.

The fourth quarter of 2025 was strong, with Maaden swinging to a net profit of SR1.67 billion, compared to a loss of SR106 million in the same period of the prior year. Quarterly revenue rose 7 percent to SR10.64 billion.

The firm achieved record production of di-ammonium phosphate, reaching 6.72 million tonnes for the year, a 9 percent increase. Aluminum production remained near-record levels, while the company added a net 7.8 million ounces to its reportable gold mineral resources through discovery and resource development.

The phosphate division saw sales jump 17 percent to SR20.77 billion, with the earnings before interest, taxes, depreciation, and amortization margin expanding to 47 percent. The aluminum business reported a 9 percent increase in sales to SR10.99 billion, with EBITDA more than doubling in the fourth quarter.

Looking ahead, Wilt emphasized that the pace of growth will accelerate as the company advances key initiatives, including the Phosphate 3 Phase 1 and Ar Rjum projects, which remain on budget and schedule. Maaden has also secured a gas supply for its future Phosphate 4 project.

“This pace of growth will only accelerate. Not only as we advance projects and increase the scale of our exploration program, but as we continue to grow production and implement technology that will further modernize, streamline and unlock value,” Wilt added.

Earnings per share for the year rose sharply to SR1.91, up from SR0.78 in 2024. Total shareholders’ equity increased by 18.7 percent to SR61.59 billion.