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Mangalore, Sept. 22 The Central Arecanut and Cocoa Marketing and Processing Cooperative (Campco) Ltd has wiped out the accumulated loss sustained from 1999-2000, and recorded a net profit of Rs 3.52 crore in 2007-08.

Addressing presspersons here on Monday, Mr S.R. Rangamurthy, President of Campco, said all the accumulated losses of the cooperative had been wiped out now. The cooperative has declared a dividend of 10 per cent to its members for 2007-08.

The profit has been attributed to the price stability in the last two years, and cost control measures of the cooperative. Added to this, the total volume of business also increased.

The share capital of Campco, which was at Rs 9 crore during 2005-06, reached Rs 16 crore in 2007-08, he said. It may be mentioned here that the cooperative returned the share capital to the tune of Rs 3.76 crore and Rs 89 lakh of Karnataka and Kerala, respectively, in August 2005.

The gross profit stood at Rs 42.53 crore (Rs 29.36 crore) during 2007-08.

During the period, the cooperative purchased 39,175 tonnes of arecanut worth Rs 345.89 crore and sold 42,483 tonnes of arecanut worth Rs 410.63 crore. The cooperative is planning to purchase 45,000 tonnes of arecanut and sell 46,000 tonnes during the current fiscal, he said.

During 2007-08, Campco procured 2,938 tonnes of wet cocoa beans and 1,569 tonnes of dry cocoa beans. During the current fiscal, the cooperative is planning to purchase 7,000 tonnes of wet cocoa beans and 2,000 tonnes of dry cocoa beans. Campco members have been given nearly one lakh seedlings at subsidised rates, and this scheme of supplying subsidised seedlings will continue this year also.

During 2007-08, the net profit of the chocolate unit stood at Rs 11.42 lakh after tax. The chocolate unit at Puttur in Dakshina Kannada district has been utilised to the extent of 80 per cent of its capacity. During the period, the unit produced 10,376 tonnes of finished and industrial chocolate products.

During this fiscal, the cooperative is planning to produce around 12,000 tonnes of finished and industrial chocolate products.

Stating that Campco is planning to utilise its chocolate factory to 100 per cent of its capacity, Mr Rangamurthy said around Rs 3 crore would be invested for installing separate line for production of chocolate chips.

The cooperative exported cocoa-based products to the extent of 1,609 tonnes worth Rs 14.46 crore during 2007-08.

During the current year, it is projected to export around 3,000 tonnes of cocoa-based products, he added.

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