Puttur: Areca prices to rise to Rs 350/kg as supply is low

Puttur, 17 June 2020 [Fik/News Sources]: As the demand for areca is rising in Mangaluru nut market and the supply is low, the price of the nut is expected to rise to Rs 350 per kilogram.

Due to diseases and adverse weather, areca crops in southern India was affected. This has led to lower stockpiles in northern India and increased demand.

In addition, the ban on the import and the lockdown effect has also played a role in the price rise.

Areca grower Mahesh Puttur states an additional reason for the price rise saying that June is the start of the school year, and growers usually sell their stock at this time to pay for school fees. However, as the school reopening has been postponed and there is no other expenses growers have decided to sell the nut after an increase in price to save money for any future expenses, hence there is a reduced supply of the nut in the market.