'Sell areca through co-ops to maintain price stability'

'Sell areca through co-ops to maintain price stability'

Only 21 pc of total produce is sold under co-op marketing system

Malenadu Arecanut Marketing Co-operative Society (MAMCOS) Vice President Narasimha Nayak inaugurating the society shareholders meeting at Koppa on Wednesday. DH Photo

Addressing shareholders at a meeting at MAMCOS Office here on Wednesday, Nayak said that currently only 21 per cent of the total arecanut produce is being sold under co-operating marketing system, while the rest is sold at open market. The open market sale leads to tax evation, he added.

Plans to set up a federation of various co-operative societies including MAMCOS, APCOS, THUMCOS and CAMPCO to store arecanut worth Rs 500 crore will be chalked out. Farmers will get reasonable price for their produce through the move, he added.

MAMCOS, which has 19,500 members, is carrying out business of about Rs 100 crore. The Society has warehouses in Sringeri, Koppa, Thirthahalli, Sagara, Tarikere and Birur, he said adding that additional stock of 40,000 bags of arecanut had arrived during the year. There was only lukewarm response to the crop insurance scheme introduced by the society, Nayak said. only 1,700 growers had registered under the scheme paying Rs 100, he lamented.

Direcctors Kasave Shantharama, Vasumthi N Moorthi, Aravinda, Ananthapadmanabha Bhat, Sunkurudi Nagesh, Virupaksha, T M Venkatesh, L T Thimmappa, Ashok Nayak and Sadanand were present.

DH News Service

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