White arecanut price soars 82% to all-time high of ₹500 a kg
February 10, 2021
Areca cooperative Campco’s initiative to buy produce during lockdown proves useful
The price of the old stocks of white arecanut touched an all-time high of ₹500 a kg on Wednesday, recording a jump of more than 80 per cent in the post-lockdown market.
The Central Arecanut and Cocoa Marketing and Processing Cooperative (Campco) offered a maximum of ₹500 a kg for the old stocks of white arecanut and ₹415 a kg for the new stocks, to its grower-members in key markets on Wednesday.
Campco had taken initiative to buy arecanut from growers during the lockdown when there were absolutely no buyers for it in the consuming market. The cooperative started buying white arecanut on April 13 before the end of the phase I of the lockdown, by fixing a base price of ₹250 a kg for new stocks and ₹275 a kg for old stocks.