The Central Arecanut and Cocoa Promoting and Processing Cooperative (Campco) Ltd has decided to raise the procurement price of white arecanut by ₹5/kg with impact from Wednesday. With this, the price of the new shares of white arecanut has crossed the pre-lockdown amount.
Suresh Bhandary, Controlling Director of Campco, informed BusinessLine that the procurement price of new shares of white arecanut has been elevated from ₹270/kg to ₹275 /kg from Wednesday. New shares of white arecanut had shut at ₹267/kg in the pre-lockdown industry. With this, the growers will be acquiring ₹7 a kg more than the pre-lockdown price.
He mentioned the procurement price of previous shares of white arecanut has been elevated from ₹295/kg to ₹300/kg from Wednesday. The price dominated at about ₹300/kg in the pre-lockdown industry.
He mentioned the full sealing of borders with neighbouring nations around the world has put a total brake on legal and illegal imports of arecanut. The imported shares were being conference a important aspect of the demand in the northern marketplaces these types of as Uttar Pradesh.
Stating that these marketplaces are entirely dependent on domestic shares now, he mentioned, this aspect is driving the demand for white arecanut in the arecanut-rising centres.
At a time when the arecanut-consuming industry was shut down entirely thanks to lockdown, the cooperative decided to enterprise into arecanut procurement on April thirteen at a foundation price of ₹250/ kg for new shares of white arecanut, and ₹275/kg for previous shares.
Bhandary mentioned the final decision was taken then to avoid worry offering of the commodity by farmers and to provide steadiness to the industry.
On April 27, Campco even more elevated the price to ₹255/kg for new shares and ₹280/kg for previous shares of white arecanut.
On Might 4, it elevated the procurement price to ₹270/kg for new shares and ₹295/kg for previous shares of white arecanut.