Prices of White Arecanut shots up, bringing chears to growers

Mangalore, Apr 4 (UNI) After a gap of five years, the price of white Arecanut, known as "Mangalore Chali" had shot up and touched Rs 100 per kg in the Mangalore market.

The prices shot up to Rs 90 per Kg on the Hindu New Year Day (Ugadi) on March 30 from Rs 10. The prices of new Arecanut varied from Rs 84 per kg to Rs 92 kg and those of Koka (New) were between Rs 70 and Rs 71 per kg and that of old Arecanut were between Rs 82 to Rs 100 per kg at the South Kanara Agriculturists Cooperative Marketing Society (SKACMS) which functions like a commission agency.

Though the Arecanut growers in the district were in a happy mood over the increase in the prices of new Arecanut, they were equally concerned and confused over the sudden jump.

The SKACMS sources told UNI today that sudden jump were mainly due to high demand and reduction in the Arecanut crop and rumours that Arecanut would be brought under VAT net. "Today it is seller's market. With the Government's recent announcement of credit to the farmers at four per cent interest and speculations of further hike in the prices, several farmers were still holding their stocks," the sources added.

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