After dairy co-ops, it is the turn of arecanut sector to oppose the ongoing negotiation to build a trade-free zone. The ministerial level meeting of RCEP took place in Bangkok recently.
Business Line reports the arecanut sector is opposed to the RCEP free trade agreement and would like itself to be excluded from it. The sector feels the inclusion of arenacut in the list of commodities for trade under RCEP will seriously harm their interests.
Sources familiar with the sector say Indian arenacut growers are already affected by the import of arenacut from Indonesia and Thailand. Quoting a source, the news outlet adds India produces about 7 lakh tonnes of arecanut in a year.
Meanwhile, allaying the fears of arecanut farmers, a well-known agro-economist says the proposed FTA may not have a big impact on the commodity market.