Mangaluru

Arecanut prices recover slightly in Mangalore

Private traders have increased arecanut prices by Rs. 5 per kg more than the CAMPCO prices. File Photo

Private traders have increased arecanut prices by Rs. 5 per kg more than the CAMPCO prices. File Photo  

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This has come after the Union government on August 14 issued a notification increasing the base import price of arecanut from Rs. 110 per kg. to Rs. 170 per kg.

Prices of white arecanut have slightly recovered on Monday following a fall of 8 to 11 per cent in the last fortnight.

Sources said private traders increased prices by Rs. 5 per kg more than the Central Arecanut and Cocoa Marketing and Processing Cooperative (CAMPCO) prices.

This has come after the Union government on August 14 issued a notification increasing the base import price of arecanut from Rs. 110 per kg. to Rs. 170 per kg.

With this increase, arecanut imported from other than SAARC countries will cost Rs. 371 per kg, with 110 per cent for customs duty and other cess.

If it was imported from any of the SAARC countries it will cost Rs. 252 per kg, with 40 per cent for customs duty and other cess.

However, CAMPCO did not increase its price on Monday. Its prices remained at Rs. 270-Rs. 280 per kg for the old stock and Rs. 265-Rs. 275 per kg for new arrivals.

Sources in CAMPCO told The Hindu that they would not react to a difference of Rs. 5 in the market. If the prices went beyond Rs. 10 per kg, they would be forced to follow the open market.

Sources said that traders from North India have begun enquiring about the availability of the produce with the CAMPCO after the last week’s notification.

A November 9, 2011 notification which allowed importers to import arecanut through the least developed countries among SAARC countries, at zero customs duty still threatened domestic arecanut market, source said.



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Printable version | Jan 28, 2020 2:52:45 PM | https://www.thehindu.com/news/cities/Mangalore/arecanut-prices-recover-slightly-in-mangalore/article6331102.ece

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