CAMPCO lauds Union Govt for raising minimum import price of Arecanut
CAMPCO lauds Union Govt for raising minimum import price of Arecanut
Mangaluru: The Central Arecanut and Cocoa Marketing and Processing Co-operative Limited (CAMPCO) has welcomed the recent notification from the Union Ministry of Commerce and Industry to raise the minimum import price of Arecanut to Rs 251 from Rs 162 per kilogram.
The influx of import of arecanut into the domestic market was causing continuous destabilisation of the commodity prices by causing great distress to the domestic farmers produce. In the wake of the issues faced by the farmers, CAMPCO along with other cooperatives had submitted various representations to the union ministry of commerce and industry outlining the market situation. Union Minister for Commerce and Industry Nirmala Sitharaman understanding the plight of the farmers, was spontaneous in recommending the Director General of Foreign Trade (DGFT) for hiking the existing minimum import price from Rs 162 to Rs 251 per kilogram.
This move is expected go a long way in curbing the import of arecanut as well as boosting the morale of the domestic areca farmers as the arrivals of new stocks into the market have just started.
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