Arecanut touches a record Rs 300/kg

Lockdown might have hit many farmers across the country, but it has benefited arecanut growers like never before.
Growers who were holding on to their produce as the prices were steadily going up have started bringing it to the market in huge quantities
Growers who were holding on to their produce as the prices were steadily going up have started bringing it to the market in huge quantities

MANGALURU: Lockdown might have hit many farmers across the country, but it has benefited arecanut growers like never before. The price of new stocks of white arecanut has touched a record Rs 300 per kg in the domestic market for the very first time and it is set to further go up if restrictions on its imports continue for some more time. India gets 40% of its arecanut through imports – mainly from Indonesia and Myanmar, which is routed through Nepal.

These imports had seen a steady decline from last one year due to policy measures. Moreover, the lockdown which sealed the Indo-Nepal border has fully stopped its import. Suresh Bhandary, MD of Campco, said the prices of fresh arecanut went up from Rs 250 to Rs 300, those of the commodity harvested a year ago went up from Rs 270 to Rs 320.

Also, the prices have remained stable for a week now. “For the very first time, the trading price of the new harvest has touched Rs 300 mark. It might go up further if the Maharashtra market opens up, jacking up the demand,” he said. Meanwhile, the growers who were holding on to their produce as the prices were steadily going up from last two months have started bringing it to the market in huge quantities. CAMPCO procurement centres in Dakshina Kannada and Kasaragod districts have seen arrivals of more than 2,000 quintals every day in the last few days.

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The New Indian Express
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