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Arecanut prices reach Rs 400 per kg

Last Updated 10 September 2020, 04:18 IST

Arecanut growers have reasons to smile this week, as the procurement prices of ‘chol’ arecanut (harvested a year ago) has touched Rs 400.

This is the maximum price in the history of Central Arecanut and Cocoa Marketing and Processing Co-operative Limited (Campco), according to arecanut growers.

For the past three days, the price of ‘chol’ has reached Rs 400 per kg, while the price of hosa adike (fresh arrivals) has reached Rs 360 per kg. The private traders were purchasing arecanuts by fixing more price than Campco in the past few months. Now, they are procuring ‘chol’ at Rs 390 per kg and fresh arrivals at Rs 350 per kg.

The prices of ‘chol’ arecanut was Rs 290 per kg in November 2019, while the prices of ‘double chol’ arecanut (harvested two years ago) had reached Rs 300 per kg and the fresh arrivals were procured at Rs 235 per kg. To protect the interest of the arecanut growers, Campco had increased the procurement price of arecanut during the lockdown.

When Campco started procuring arecanut after a few days of suspending the procurement during the lockdown, the arecanut market witnessed a slight recovery.

Initially, it was procured at Rs 275 per kg of ‘chol’ and Rs 250 per kg of fresh arrivals on April 13. The price continued to rise when private traders started increasing procurement prices.

A few traders had even purchased at Rs 400 to Rs 410 per kg. The price had remained stable at Rs 390 per kg for four weeks.

Last week, it had increased to Rs 395 and now it has further increased to Rs 400 per kg.

Campco President S R Sathishchandra said that the price of arecanut is steady. The arecanut growers need not panic. He said Campco has been trying to bring in price stability.

There is good demand for arecanut in North India. Further, the illegal import of arecanuts has stopped following the closure of borders.

Owing to fruit rot disease affecting the arecanut plantations for the past two years, the yield had reduced. Now, even with better price, a majority of the small and medium growers do not have stock of old arecanuts.

“The increase in the price of fresh arrivals has benefited the growers,” Rajya Raitha Sangha Mathu Hasiru Sene Secretary Ravikirana Punacha said.

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(Published 10 September 2020, 04:18 IST)

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