Prices of all varieties of arecanut have of late considerably slumped causing panic among growers. Kankodi Padmanabha president of central arecanut and cocoa marketing and processing cooperative (CAMPCO) has blamed the fall in prices on the increase in import of arecanut.
Padmanabha who is a BJP cooperator and who is also on the NCUI’s Education Committee member said that the sub-standard quality arecanut from neighbouring countries like Bangladesh and Sri-Lanka flooding the Indian market has also had a negative impact on price development.
Sources say representatives of arecanut cooperative societies will soon meet the Prime Minister to urge him to ban the import of arecanut. They will also urge the commerce ministry to take necessary steps to stop the illegal import of it, sources add.
Experts familiar with the arecanut market say, there are unscrupulous traders and growers who are indulging in speculation and thus distorting the price trend on the market. However, the present price distortion will continue till the arrival of fresh produce on the market, that is till the end of September, experts add.