The Central Arecanut and Cocoa Marketing and Processing Cooperative (Campco) recorded a net profit of ₹5.99 crore during 2023-24 against a loss of ₹12.29 crore in 2022-23. Total turnover of the cooperative increased to ₹3,336.87 crore during 2023-24 from ₹2,819.40 crore in the previous fiscal.
The annual report of the cooperative for 2023-24 said while the adverse impact of import of arecanut started showing on the demand trends in the last quarter, the strategic decision-making and efficient cash flow management allowed Campco to deliver a decent performance.
Karnataka and Kerala together cultivate approximately 70 per cent of arecanut in India. Campco is a major channel through which the produce is marketed across States in the country, it said. “At present, the price of arecanut has been fair and attractive; however, as volatility is the essence of this commodity, Campco strives to endorse its sole motive of ‘fair deal’ to its members,” the annual report said.
The cooperative purchased 57,356.30 tonnes of arecanut valued at ₹2,502.27 crore during 2023-24. This included 25,762.03 tonnes of red arecanut valued at ₹1,238.76 crore and 31,594.27 tonnes of white arecanut valued at ₹1,263.51 crore.
Cocoa procurement
During 2023-24, the quantity of wet cocoa beans procured was 1,762.36 tonnes, valued at ₹13.37 crore, and dry cocoa beans purchased was 5,249.26 tonnes, valued at ₹140.79 crore.
The report said that Campco’s chocolate segment continued to nurture the customers especially in industrial segment albeit remaining under the pressure of irrational surge in the cocoa bean prices globally in the last quarter. It said that exports remain a key focus area for the ‘drinking chocolate’ under various brand names in the international market.
The cooperative, which distributed 27,555 cocoa saplings to its grower members at subsidised rate during 2023-24, is planning to supply 75,525 cocoa saplings at subsidised rates during 2024-25.
During 2023-24, Campco purchased 1,784.05 tonnes of rubber valued at ₹26.91 crore and sold 1,771.26 tonnes valued at ₹27.25 crore. It purchased 855.79 tonnes of pepper valued at ₹45.65 crore and sold 1,588.71 tonnes valued at ₹78.23 crore during 2023-4.
The report said that Campco distributed copper sulphate to the tune of 269.07 tonnes to the farmers at a very reasonable rate. “Our cooperative is continuing to provide copper sulphate at subsidised rate to the active members, and we are hopeful of maintaining this in the coming years also,” it said.