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There has been a gradual decrease in import of arecanut in the first six months of 2019-20.
The country imported around 9,560 tonnes of arecanut during April-September of 2019-20 as against 18,495 tonnes in the corresponding period of previous financial year, a decline of around 48 per cent.
According to data available on Commerce Department’s ‘system on India’s monthly trade’, arecanut imported from Sri Lanka has seen a decline of around 83.62 per cent during the H1 of 2019-20. Sri Lanka exported 2,171.56 tonnes of arecanut to India during April-September of 2019-20 as against 13,258.32 tonnes in the corresponding period of the previous fiscal.
However, there has been an increase in the import of arecanut from Indonesia during the period. The country imported 7,343.07 tonnes of arecanut from Indonesia during the first six months of FY20 as against 5,165 tonnes during the H1 of FY19.
The overall reduction in imports seems to have played a role in stabilising the price of the commodity in the domestic market. Suresh Bhandary, Managing Director of Campco (Central Arecanut and Cocoa Marketing and Processing Cooperative) Ltd, told BusinessLine that there has been an increase in arecanut prices in the domestic market in recent weeks.
The decrease in imports is one of the main reasons for increase in the price of the commodity, he said, adding that the Centre’s initiatives to curb illegal imports and policy measures have helped bring down the import of the commodity to the country.
The cooperative had made representations to the Centre on illegal import of arecanut through Myanmar border in the past. However, Commerce Department’s ‘system on India’s monthly trade’ did not show any data on the import of arecanut from Myanmar.
A year-old stocks of white arecanut were trading at ₹275 a kg in October. Now these stocks attract more than ₹290 a kg in the domestic market.
The new stocks of white arecanut are trading at around ₹235 a kg as against ₹220 a kg in November last year. The price of red variety of arecanut is hovering around ₹348 a kg now as against around ₹335 a month ago.
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