Amid the nationwide lockdown, prices of white arecanut have increased by 63 per cent compared to the prices of last year.
As per ‘The Hindu’ reports, Ramesh Kainthaje, an areca nut grower and observer of the arecanut market, said that the prices of ‘hosa adike’ posted a 27 per cent jump within the last two months. Market trends indicate that prices are likely to go up , he added.
Farmers in Sirsi (Uttara Kannada) and Sagar (Shivamogga) areas did not have white arecanut this year, said the Sources of Central Arecanut and Cocoa Marketing and Processing Cooperative Ltd.
As per reports, there is a huge shortage of white arecanut across the market which has increases its demand. In addition, there was a shortage of old stocks of white arecanut which has also resulted in the escalation in prices.
While old stocks command Rs. 315 per kg in the market and currently bulk purchasers prefer fresh arrivals which cost about Rs. 60 less per kg.
Mr Kainthaje, a member of the G.V. Joshi Committee on Production Cost of Arecanut, said that white arecanut prices have been maintaining an upward trend for the past four years. ‘Hosa adike’ prices stood between Rs. 65 to Rs. 70 per kg in the beginning of 2011, he said.
