Two months soon after the arecanut market opened, the value of white arecanut has found a bounce of close to 26 for every cent.

On Friday, Campco (Central Arecanut and Cocoa Marketing and advertising and Processing Cooperative) Ltd supplied a highest of ₹315 a kg for the new shares of white arecanut.

At a time when the major arecanut-consuming markets had been closed due to the lockdown, Campco had started procurement of white arecanut on April 13 by presenting ₹250 a kg for new shares. The cooperative had taken this choice then to avoid worry marketing of the commodity by the growers.

With Friday’s value of ₹315 a kg for the new shares of white arecanut, the commodity has found a bounce of ₹65 a kg in a two-month period of time.

Campco started obtaining the previous shares of white arecanut at ₹275 a kg on April 13. Now, the cooperative is presenting a highest of ₹328 a kg for the previous shares.

Mahesh Puchhappady, Basic Secretary of the All-India Arecanut Growers’ Affiliation, instructed BusinessLine that things this kind of as the stoppage of imports in the course of the lockdown and drying up of shares in arecanut-consuming locations are boosting the prices of the commodity.

Urging growers to be cautious about unscrupulous traders, he claimed numerous private traders approach farmers when prices cross ₹300 a kg by presenting them ₹10-15 a kg extra than the prevailing market rate. He urged the growers to be cautious with this kind of traders as some of them want to stay away from costs for the shares offered. Some of them even assure to pay back the sum afterwards and subsequently vanish soon after using the arecanut stock, he claimed.

Even though a value above ₹300 a kg is great for the grower, it continues to be volatile above that array, he claimed.

In spite of great prices for the commodity, not a great deal stock has been coming to the market. For this, he claimed arecanut production is reduce this time as opposed to past calendar year.

Published on

June 19, 2020

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