Campco Ltd recorded a growth of 17.42 per cent in net profit during 2011-12. The Campco (Central Arecanut and Cocoa Marketing and Processing Cooperative) achieved a net profit of Rs 15.10 crore during 2011-12 as against Rs 12.86 crore in the previous fiscal.
This net profit was after providing for Rs 18.15 crore for price fluctuation fund, Rs 4.15 crore each for members development fund and employees development fund.
The annual report of the cooperative for 2011-12 stated that the Campco board has recommended a dividend of 15 per cent for 2011-12 to its members. At the end of the last fiscal, the multi-State cooperative had 1.19 lakh grower-members with a paid up share capital of Rs 26.11 crore. It also recommended a purchase incentive of Rs 1.50 a kg, subject to a maximum of Rs 7,500 a grower.
During 2011-12, the cooperative purchased 47,195 tonnes of arecanut valued at Rs 662.43 crore and sold 53,873 tonnes valued Rs 782.20 crore.
During the year, the cooperative procured 3,653 tonnes of wet cocoa beans valued Rs 15.73 crore and 1,296 tonnes of dry beans valued Rs 8.92 crore.
The cooperative, which entered rubber market in 2010-11, procured 581 tonnes of rubber worth Rs 11.77 crore in 2011-12. The cooperative had procured 315 tonnes of rubber worth Rs 6.35 crore in 2010-11.
The cooperative sold 647 tonnes of rubber worth Rs 13.32 crore during 2011-12 (216 tonnes worth Rs 4.35 crore).
Campco is procuring rubber in Mulleria, Bandadka, Badiadka and Parappa in Kerala; and Kadaba, Alankar, Ninthikal, Uppinangady, Sullia, Ripponpet and Sagar in Karnataka.
The annual report said that the cooperative will begin rubber procurement from other suitable areas in a phased manner.