The warehouse business in Bhopal, Madhya Pradesh, is facing a crisis due to a lack of sufficient grain stock. Owners are struggling to pay their EMIs and are finding it difficult to keep their warehouses running. Previously, constructing a warehouse in Bhopal was considered a sure-fire way of making a profit, but in the last two years, the situation has changed. Many warehouses either have very little stock or are empty, and owners are struggling to keep their businesses afloat.
Vinod Sahu, who owns a warehouse in Sukhi Sewania area, said that most of the warehouses in his area were lying vacant and facing financial crises. Nathuram, who opened a warehouse two years ago in Misrod, is also struggling to keep his business running. After borrowing money at a high interest rate, he has only received a few instalments from the government, leaving him unable to maintain his warehouse.
The warehouse corporation officials explained that those who constructed warehouses eight years ago made a lot of money, receiving anywhere from Rs 3 to Rs 4 lakhs per month for grain storage. However, those who built warehouses just two years ago are facing large losses. This is due to the fact that the stock carry-forward method was discontinued, and the government distributed stocked grains to those in need during the last two years of the pandemic. Furthermore, the government didn’t purchase as much wheat as it had in previous years.
The general manager of the Madhya Pradesh Warehousing and Logistics Corporation, OP Kushwah, advised those interested in investing in warehouses to consider the project’s viability, as the state already has an adequate number of godowns.
In conclusion, the warehouse business in Bhopal is facing a challenging situation. Warehouse owners are struggling to find enough grain stocks and are finding it difficult to keep their businesses running, given the current economic situation. Additionally, the general manager advises potential investors to think twice before investing in a warehouse in Bhopal, as the market is already saturated.
