logo
Amendment of roasted arecanut import policy helped increasing the price of low-grade arecanut: CAMPCO

Amendment of roasted arecanut import policy helped increasing the price of low-grade arecanut: CAMPCO

The Hindu12-05-2025
The Directorate General of Foreign Trade (DGFT), amending the import policy on roasted arecanut through a notification last month, has resulted in the prices of low-grade variety 'chali' arecanut shooting up in the domestic market, according to the Central Arecanut and Cocoa Marketing and Processing Cooperative (CAMPCO) Ltd.
Since the DGFT notification, the prices of low-grade arecanut varieties such as the 'kari gotu' have increased by 50% (from ₹100 to ₹150 per kg), 'pathora' by 16.66% (from ₹300 to ₹ 350 per kg) and 'ulli' by 38.88% (from ₹180 to ₹250 per kg), A. Kishore Kumar Kodgi, president, CAMPCO Ltd, Mangaluru, told The Hindu.
The revised policy has recategorised roasted arecanut to 'prohibited' from 'free'. In its notification on April 2, the DGFT brought it from under the Indian Trade Classification (ITC) Harmonised System (HS) Code 08028090 and 20081920, to a single Code 08028090 which covered all kinds of processed arecanut, including roasted arecanut.
Since there is a uniform HS code for the import of arecanuts, the import of low-grade arecanuts has become costlier, Mr. Kodgi said.
Upward trend continues
The CAMPCO president said that the domestic arecanut market has maintained an upward trend since the beginning of this year, owing to the drop in production during the harvest season between December 2024 and March 2025.
Mr. Kodgi said that farmers have reported crop loss ranging between 60% and 70%.
He said that if the price of 'hosa adike' ('chali' harvested in the current season) went up by 31.4%, from ₹350 a kg in January to ₹460 a kg on May 12, the price of 'single chol' (harvested a year ago and stocked) increased by 9.89% from ₹455 per kg to 500 a k.g. on Monday.
'Expecting that prices will go up further, the farmers are not releasing the produce into the market. Hence, there is stability in the market,' the president said.
Mahesh Puchchappady, president of the All India Areca Growers' Association, Puttur, said that the drop in production this year's harvest season is attributed to climate change. As this is the fruiting season, any extreme change in the climate during the next fortnight, before the onset of monsoon, will be crucial in deciding the crop production for the next harvesting season. The next season's production will also depend upon the severity of 'kole roga' (fruit rot disease) in the plantations in this monsoon, he added.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Bizman arrested for Rs34cr GST Scam
Bizman arrested for Rs34cr GST Scam

Time of India

time5 hours ago

  • Time of India

Bizman arrested for Rs34cr GST Scam

Nagpur: The investigation branch of the Maharashtra State GST Department in Nagpur arrested one Mahesh Keshwani, proprietor of M/s K&K Brothers, for allegedly availing and passing fraudulent Input Tax Credit (ITC) worth Rs33.93 crore. The firm, registered under the MGST Act 2017, was found claiming ITC without actual procurement or movement of goods, sourcing credits from registration-cancelled suppliers. A recent investigation at the firm's Jaripatka office uncovered incriminating evidence, including system reports, indicating involvement in a larger network issuing fake invoices to facilitate tax evasion. Following his arrest, Keshwani was remanded to judicial custody until August 14 by the magistrate. The operation, part of a special drive against fake invoicing, was led by assistant commissioner Ramesh Dalvi under the guidance of senior officials, including additional commissioner Tejrao Pacharne. Get the latest lifestyle updates on Times of India, along with Friendship Day wishes , messages and quotes !

ITC Q1 PAT rises 3% YoY to Rs 5,244 cr
ITC Q1 PAT rises 3% YoY to Rs 5,244 cr

Business Standard

time15 hours ago

  • Business Standard

ITC Q1 PAT rises 3% YoY to Rs 5,244 cr

ITC reported a 3% year-on-year increase in consolidated net profit to Rs 5,244.20 crore in Q1 FY26, compared with Rs 5,091.59 crore in the same quarter last year. Revenue from operations (excluding excise duty) was at Rs 21,494.79 crore in the June 2025 quarter, up 20.90% from Rs 17,777.81 crore recorded in the corresponding quarter previous year. Profit before exceptional items and tax was at Rs 7,128.01 crore in Q1 FY26, up 4.53% as against Rs 6,818.57 crore reported in Q1 FY25. EBITDA jumped 4.2% to Rs 6,816 crore in Q1 FY26 as against Rs 6,545 crore registered in Q1 FY25. Total FMCG segment revenue grew by 6.6% year on year to Rs 14,297 crore during the period under review. ITC reported an 8.6% year-on-year growth in revenue from its FMCG segment, excluding the notebooks category. Overall FMCG growth stood at 5.2% YoY, with the company noting that the notebooks industry remains under deflationary pressure due to low-cost paper imports and aggressive pricing by local and regional players. Unseasonal rains during the quarter also adversely affected sales in the beverages category. Key categories such as staples, biscuits, dairy, premium personal wash, homecare, and agarbattis contributed significantly to ITCs FMCG segment growth. However, elevated input costs for major commodities including edible oil, wheat, maida, cocoa, soap, and noodles continued to exert pressure on margins. In response, the company said it is implementing a combination of cost management initiatives, portfolio premiumisation, and calibrated pricing actions to mitigate the impact of rising raw material costs. ITCs cigarette segment posted a 7.7% year-on-year growth in net revenue in Q1 FY26, driven by the continued strong performance of differentiated and premium offerings. The company stated that its market standing was further reinforced through strategic portfolio and market interventions, with a focused approach on competitive regions and efforts to counter illicit trade. However, margins remained under pressure due to the consumption of high-cost leaf tobacco inventory, despite some moderation in procurement prices observed in the current crop cycle. The companys agribusiness segment delivered robust growth, with revenue rising 39% YoY. The strong performance was attributed to favorable agri-commodity trading opportunities and increased exports of leaf tobacco. ITCs paper business revenue grew 7% year-on-year, primarily driven by higher sales volumes. However, the paperboards, paper, and packaging segment was impacted by the influx of low-priced supplies in global markets, including India, putting pressure on pricing and margins. ITC is a diversified conglomerate with businesses spanning fast-moving consumer goods, hotels, paperboards and packaging, agribusiness and information technology. Shares of ITC rose 1.14% to close at Rs 416.50 on Friday, 1 August 2025.

Buy or sell: Sumeet Bagadia recommends three stocks to buy on Monday — 4 August 2025
Buy or sell: Sumeet Bagadia recommends three stocks to buy on Monday — 4 August 2025

Mint

time17 hours ago

  • Mint

Buy or sell: Sumeet Bagadia recommends three stocks to buy on Monday — 4 August 2025

Buy or sell stocks: Following weak global cues after Trump's tariff bombshell on Thursday night, the Indian stock market ended lower on Friday. The Nifty 50 index finished southward for the fifth successive week, its prolonged losing streak since the week ending August 25, 2023. This selling was across segments, as the BSE Sensex and the Bank Nifty index witnessed selling pressure in the previous week, while the small-cap and mid-cap indices ended more than 2% lower last week. Sumeet Bagadia, Executive Director at Choice Broking, believes the Indian stock market is trading cautiously after the US administration's imposition of a 25% tariff. The Choice Broking expert said the Nifty 50 index is in the 24,500 to 24,950 range. A bullish or bearish trend can be assumed on the breakage of either side of this range. Speaking on the outlook of the Nifty 50 index, Sumeet Bagadia said, "The Indian stock market sentiment is cautious as the Nifty 50 index is trading in the 24,500 to 24,850 range. The key benchmark index has crucial support placed at 24,500, whereas it is facing resistance at the 50-DEMA of 24,900 to 24,950. A bullish or bearish trend can be assimilated on the breakage of either side of this range." The Choice Broking expert suggested investors look at stocks that look strong on the technical chart and recommended buying ITC, Asian Paints, and Metropolis Healthcare next week. 1] ITC: Buy at ₹ 416.45, Target ₹ 450, Stop Loss ₹ 400. ITC's share price is currently trading at ₹ 416.45 and has witnessed a decline of nearly 22% from its recent highs, followed by a prolonged consolidation phase. The stock has recently formed a Falling Wedge pattern on the daily chart—typically a bullish reversal setup that indicates a potential breakout on the upside. ITC's share price now appears to be on the verge of breaking out of this formation, supported by consistent trading volumes that reflect steady accumulation at lower levels. A sustained move above the ₹ 425 mark would confirm the breakout, potentially triggering a trend reversal and opening up room for a move toward higher price levels. This breakout would also signal a shift in sentiment from consolidation to strength. From a momentum perspective, the Relative Strength Index (RSI) stands at 51.31 and has recently given a positive crossover, moving upward and suggesting improving bullish momentum. Technically, the stock is hovering between its short-term and medium-term EMAs. A successful hold above these levels, followed by a sustained move above the long-term EMA, would further strengthen the bullish outlook. Given the encouraging technical pattern, steady volumes, and improving momentum, traders may consider buying ITC shares at the current market price of ₹ 416.45, with a stop-loss at ₹ 400 to limit downside risk. A breakout above ₹ 425 could pave the way for an upside toward ₹ 450 in the short to medium term, offering a favourable risk-reward opportunity. 2] Asian Paints: Buy at ₹ 2431, Target ₹ 2650, Stop Loss ₹ 2320. Asian Paints' share trades at ₹ 2,431 and moves within a broad consolidation range near its lower levels. This extended consolidation phase, supported by steady trading volumes, indicates accumulation and growing investor interest at these price zones. The stock has recently shown signs of recovery, bouncing from its short-term and medium-term exponential moving averages (EMAs). While it has attempted to cross above its long-term EMA, it has yet to sustain a close above that level—making a decisive breakout above it crucial for further strength. A sustained move above the ₹ 2,500 level could confirm bullish momentum, potentially triggering a fresh upward leg in the price action. This breakout would signify the end of the current range-bound behaviour and open the door for further gains toward higher levels. From a momentum perspective, the Relative Strength Index (RSI) stands at 59.29 and has recently given a positive crossover, trending upward. This suggests strengthening momentum and increasing bullish sentiment, further supported by price action holding above key EMAs. Given the constructive chart structure, improving RSI, and substantial volume support, traders may consider buying Asian Paints shares at ₹ 2,431, with a stop-loss placed at ₹ 2,320 to manage downside risk. A sustained breakout above ₹ 2,500 could lead to an upside toward ₹ 2,650 in the short to medium term, offering an attractive risk-reward setup for positional traders. 3] Metropolis Healthcare: Buy at ₹ 2037.70, Target ₹ 2260, Stop Loss ₹ 1925. Metropolis Healthcare's share price is currently trading at ₹ 2,037.70 and has shown signs of strength after a corrective move from its recent swing high. Following the decline, the stock entered a consolidation phase and witnessed a strong bounce from its demand zone, indicating renewed buying interest at lower levels. Metropolis Healthcare's share price on the daily chart is forming a Cup & Handle pattern. This bullish continuation formation typically signals the potential for further upward movement once the breakout is confirmed. A recent spike in trading volumes further validates the accumulation during the handle formation, indicating strong participation. A sustained move above ₹ 2,100 would confirm the breakout from this bullish setup and could trigger a fresh upward rally, resuming the stock's prior uptrend. From a momentum standpoint, the Relative Strength Index (RSI) is at 63.54 and has given a positive crossover, suggesting strong bullish sentiment and further upside potential. Additionally, the stock has retraced towards its short-term EMA and is now comfortably trading above all key moving averages—short-term, medium-term, and long-term—reinforcing the positive outlook. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store