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CAMPCO announces Rs 60 crore, profit

CAMPCO announces Rs 60 crore, profit

Mangalore Today News Network

Mangaluru, May 31, 2015:  Briefing media on May 30 Saturday, CAMPCO president Konkodi Padmanabha said that  CAMPCO - Central Arecanut and Cocoa Marketing and Processing Cooperative Ltd, has earned a business turnover of Rs 1,540 crore during 2014-15 and gained  profit of Rs 60 crore.  As incentive to arecanut growers, Campco will provide Rs 1.50 per kg of arecanut sold to it. With this, one can get maximum incentive of Rs 12,000 by selling 80 quintal.  Campco has purchased arecanut worth Rs 1,241.78 crore.  Cocoa worth Rs 63.46 crore has been procured during 2014-15, and rubber worth Rs Rs 17.96 crore.

CAMPCO announces Rs 60 crore, profit

Chocolates worth Rs 54 crore was sold by Campco. The cooperative has given Rs 50,000 each for 13 members to undergo heart surgery and Rs 5,000 each for 22 members for dialysis. It hopes to give Rs 1 lakh for members for transplantation of kidney and Rs 50,000 for open heart surgery.

Stating that arecanut price will remain stable for time being, Campco President said growers need not worry over fluctuation in the price.  Fresh arrival currently fetches Rs 259 per kg, while old stocks command Rs 330 per kg in the market. Though price of red arecanut was going downward, it is stable and has reached Rs 325 per kg, he added. Campco president said the board of cooperative is likely to recommend dividend of 15 per cent for its members.

Konkodi Padmanabha said Campco has written a letter to Union Minister for Commerce Nirmala Seetharaman seeking a ban on the import of arecanut from foreign countries as India itself has reached self-sufficiency in arecanut production.  A delegation will meet Prime Minister Narendra Modi before monsoon session to press for import ban on arecanut.On future plan, he said Campco is planning fully automate Campco chocolate factory.  About 1,100 tonne drinking chocolate has been exported to African countries last year.

Chinese interest  :  CAMPCO President said a chinese firm Kou Wei Wang Ji Tuan Xian Gongsi from Hu Nan Province in China has shown keen interest in manufacturing mouth freshner from husk of tender arecanut. The delegates have said they would require about 20 lakh metric tonne husk.  Talks are to be  held with the firm in this regard before coming to a final decision on the same.

Campco will procure the areca nut from farmers and supply it to the Chinese firm, the firm’s main interest is in the peel and not the areca nut inside. They have even offered to sell the areca nut back after taking the peel.  in deed the future looks promising for areca.

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