Campco posts net profit of Rs 26.22 Crores in 2016-17

Mangaluru: The Central Arecanut and Cocoa Marketing and Processing Co-operative Limited (Campco) has earned a business turnover of Rs 1,600 crore in the financial year of 2016-17 and gained a net profit of Rs 26.22 Crore.

S R Sathish Chandra, President of Campco addressing the media said Campco’s transaction for the year 2016-17 in arecanut purchases is valued at Rs 1308.27 Crore, sales valued at Rs 1362.12 Crore, cocoa purchases at Rs 68.65 Crore, rubber purchases at Rs 30.82 Crore, rubber sales at Rs 31.23 Crore and chocolate sales at Rs 183.31 Crore.                 

He also said that apart from arecanut, cocoa and rubber, Campco has ventured into pepper business. Campco has purchased 38.04 MT pepper worth Rs 2.20 Crore. An MoU has been signed with ICAR-Indian Institute of Spices Research to utilise the facilities available for spices processing operation at IISR Kozhikode in Kerala. The processing facility will be used for cleaning, grading and packing whole black pepper and white pepper, he added.

During the press meet, certified quality pepper was released to the market.

Continuing he also said that, “Dry arecanut from India is a qualified product by international standards. China has a huge market for tender arecanuts as it is used as the main raw material in mouth fresheners.”

“During the time of demonetisation, while the private traders have stopped purchases, Campco continued to purchase arecanut to a maximun limit of Rs 20000/24000 till the banking transactions were regularised. This decision of Campco has helped the arecanut market to remain stabilised”, he added.

The 43rd annual general meeting of Campco will be held on September 23 at 10:30 AM at Sangha Nikethan, Mangaluru, he disclosed.

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