Due to the incessant efforts of the cooperative societies, it is learnt that the Commerce Ministry has now recommended to the Agriculture Ministry for increasing the Minimum Import Price, it was revealed in a press release from Chocolate co-operative Campco.
Minister of State for Agriculture and Farmers Welfare Ms Shobha Karandlaje has assured that the same would be notified at the earliest.
Campco team is confident that the stringent measures by the Union Government would control the unabated influx of import of Arecanut into the country safeguarding the domestic farmers for which it appreciates and is profusely grateful to the Union Government of India, reads the release.
All these developments would lead to an improved market situation in the near future, the release informed.
The release adds that in a few days from now the Winter Season will subside and by Sankranthi the market will recover. Farmers are requested not to give room to rumours and tender only that quantity of arecanut as per their financial requirements, the release said.
Due to the extreme cold weather and conduct of elections in various Northern Indian States, there was a downward trend in the Arecanut Market. Added to it, the Paan Masala Companies during the Winter season do not go into full-fledged production owing to which the demand decreases, it felt.
This affects the demand for the Coastal belt White Arecanut (Chali). The Red Variety Arecanut which experienced a downward slide is recovering from the past two days and there is a good demand from North India also, informs a press release issued by Campco.
For the past two months goods were not despatched in bulk to North India. Hence there is no sufficient buffer stock in North India.