“Malnad Areca Marketing Co-operative Society (MAMCOS) has 19,200 members and has registered an annual turn over of Rs 24 crore with Rs 3.46 crore share capital,” said MAMCOS Vice-President Narasimha Nayak.
Inaugurating the MAMCOS interactive meeting held at Koppa Town Hall, he said that the Society received 1.29 lakh areca bags this year and lent loan of Rs 18 crore to farmers during harvest.
Society has also dispersed loan of Rs 54 crore and medicine worth Rs 64 lakh.
He said that the society has also given a sum of Rs 5 lakh to conduct study on Areca products and the research is being supported and conducted under the leadership of Shree Kshethra Dharmasthala Dharmadhikari Dr D Veerendra Heggade.
“The research has found that Areca is an effective medicine for diabetes and the new product will be in the market soon,” he added.
The society has provided crop loan to the growers and insurance to areca plantation workers for the first time.
During the interactive meet the stake holders kept forth their grievances, suggestions and plans for the society, which he said will be considered sincerely by the administrative board.
During the occasion ‘Best co-operative award’ was conferred on TAPCMS president A B Vasappa and ‘Sahakari Rathna’ award on Narasimha Nayak.