White arecanut shoots to Rs. 200 a kg

White arecanut shoots to Rs. 200 a kg

Mangalore Today News Network

Mangaluru, Jan 7, 2015: As white arecanut (chali) harvested during the past 45 days began arriving in the market, its prices have touched Rs. 200 a kg — an all-time high for the fresh crop season, according to arecanut stakeholders.

Ramesh Kaintaje, an arecanut grower and close observer of the arecanut market, told The Hindu that never in the past had the prices of new arrivals of white arecanut fetched such high prices in the arrival season. It was always below Rs. 165 a kg. Last January the prices hovered between Rs. 150-158 a kg.

Manchi Srinivasa Achar, president, All India Areca Growers’ Association, Puttur, said the prices had slowly shot up from Rs. 165 a kg a fortnight ago to Rs. 200 a kg since the past week.

Konkodi Padmanabha, president, the Central Arecanut and Cocoa Marketing and Processing Cooperative Ltd. (Campco) said there was a shortage of old stock of white arecanut in the market, especially in Gujarat.Many growers did not have old stock.

In addition, as the price of the red variety of arecanut was high (between Rs. 300 to Rs. 360 a kg) there was a demand for white arecanut, which was resulting in higher prices of new arrivals of white arecanut.

A Campco official said that if prices of old stock of white arecanut maintained an upward trend or remained stable, prices of new arrivals of white arecanut also would not come down. He said the demand from Gujarat would continue till March. The official said that if the growers released the produce to the market in small quantity at regular intervals the prices might sustain. If growers released the produce at one go, the prices might fall.

 

Courtesy: The Hindu