Daijiworld Media Network – Puttur (MS)

Puttur, Oct 15: Recent developments in the arecanut market in Mangaluru suggest that traders from outstation markets are scheming to manipulate prices. In response, local arecanut growers have decided to withhold their produce, adopting a 'wait and watch' approach to counteract the moves of these outstation traders.

After a sustained period of rising arecanut prices, there was an abrupt decline in rates a few days ago. Notably, the price of Single Chol arecanut saw a considerable decrease compared to new arecanuts. There is speculation that a vested interest group may be attempting to diminish the price of locally grown, high-quality arecanuts. Growers also have concerns about the quality of arecanuts being supplied from Burma. However, the complete picture is still emerging.

Traditionally, the prices in the outstation markets would exceed those set by cooperative societies. This time around, the roles have reversed. On October 14, the price of Single Chol arecanut in the external Puttur market stood at Rs 421, while in Campco, it was Rs 425. Double Chol fetched prices ranging from Rs 450 to 470 in the external market, compared to Rs 460 to 485 at Campco.