Central Arecanut and Cocoa Marketing and Processing Cooperative (CAMPCO) Ltd. will procure coconut from farmers on a pilot basis in the coming days, according to president A. Kishore Kumar Kodgi.
Speaking at the 47th annual general body meeting of the cooperative here on Saturday, he said that initially coconuts will be purchased from farmers in Puttur and Sullia taluks. If the procurement becomes a success later it will be extended to other places.
The cooperative has plans to market the copra on its own brand, he said, adding that in addition to arecanut, CAMPCO has been purchasing rubber and pepper from farmers.
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Mr. Kodgi said that the cooperative has also plans to extend a ₹5 lakh health insurance cover to its farmer members.
CAMPCO will open more arecanut procurement centres in North Karnataka and Bayaluseeme areas. Their processing will also be done at identified locations in those regions.
Arrangements have been made to transport arecanut (purchased by farmers) on trains to Gujarat instead of trucks. It will save money in transportation cost.
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The president said that strict vigil on the border areas in the country and low imports due to COVID-19 factors have helped in pushing the prices of arecanut up and maintaining stability in the market.
He said that the cooperative will encourage farmers to sell dry cocoa beans to get better price. The cocoa cultivation will be promoted in Bayaluseeme areas too.
The cooperative will replace the old machinery at its chocolate factory in Puttur in phases at an estimated cost of ₹166 crore. The board has approved this proposal, he said.
The president said that amid COVID-19 the cooperative earned a ₹100.2 crore profit during 2020-21. The turn over stood at ₹2,134.15 croes. It has decided to provide 15 % dividend to its farmer members.
CAMPCO has decided to provide its farmer members an incentive of ₹1 per kg of arecanut when sold to the cooperative and and an incentive of ₹1.5 per a kg of wet cocoa beans and ₹4 per kg of dry cocoa beans.