Daijiworld Media Network- Mangaluru (RJP)

Mangaluru, Mar 21: The price of areca nut went up by whopping Rs 6,000 per quintal in a single day on Monday, March 20. This unprecedented hike has brought happiness in the faces of areca farmers of the region.

Areca is mainly grown in Dakshina Kannada, Udupi, Shivamogga, Chikkamagaluru and Uttara Kannada districts in Karnataka and many farmers in these districts are dependent on it. 

With this uptrend, the produce, which was trading at Rs 34,000 a quintal last week, is now being sold at Rs 40,000 per quintal.

The price of areca nut was hovering at Rs 25,000 to Rs 26,000 per quintal till February end and crossed Rs 30,000 in the first week of March.

The farmers had fears that the yield may come down due to scorching heat of summer and their income from the produce will come down. But surprisingly the price has gone up during the summer season which will compensate them for the lower yield. 

The Union government had agreed to purchase areca grown in several districts of Karnataka, under the market intervention scheme. Areca cooperative societies were allowed to purchase the produce directly from growers. The purchase price was fixed at Rs 27,000 per quintal for red variety and Rs 25,100 per quintal for chali variety.

Traders are expecting good business this week amid the happiness among farmers.