Daijiworld Media Network - Puttur (SP)
Puttur, Oct 15: The new crop of areca nut entered the arecanut market from October first week this year.
At the beginning, new areca nut got a price of Rs 27,300 o 27,500 per quintal in the Campco market. On the second week since the arecanut entered the market, the price shot up by Rs 25 per kg, and reached Rs 300 per kilo subject to meeting quality standards. The private dealers have been offering Rs 305l per kg of areca nut. At the APMC Mangaluru, the rate of Rs 310 against the standard rate of Rs 280 was offered. For the first time, areca nut has commanded this price during the monsoon season.
For the new areca nut (single chol), Rs 360 per kg is offered while old areca nut (double chol) got Rs 400 per kg. Now, this single chol arecanut price is also rising. With a rise of Rs 15, on Wednesday, the new areca nut (single chol) was bought at Campco market at Rs 380. In The open market, even Rs 390 to 395 is offered. The price of old areca (double chol) is fixed in the Campco market at Rs 400. Private merchants are offering between Rs 395 to 399 for this areca nut.
Areca nut and its products are very much necessary for the people of north India. The merchants plan to meet the shortage of areca nut even if it means offering high prices. In this year, shortage of areca as compared to demand is felt. When areca nut touched Rs 350 a kg two months back, most stock of the areca growers had been sold out. In north India, demand for it has gone up. Everyone was waiting for the new arecanut as the old areca could not meet the demand. As the new areca nut needs time to dry up, the new areca is not entering the market in large quantities. But the merchants plan to see that this areca nut also enters the market, by hiking prices.
Campco president Satishchandra, says that price of areca nut is going up as the quantity of areca nut entering the market is less. Because of high demand, price is going up and areca nut, which is used on auspicious occasions, is because such occasions are lined up in the coming days, he noted.