Halting of copra auction worries farmers of Hassan dist

The auction process of copra (dried coconut) which has been halted the last few days at the Agricultural Produce Marketing Committee, has become a matter of concern among the farmers of Arsikere taluk.

Some of the farmers who had brought their produce to the place of auction on Tuesday were disappointed to learn about the cancellation of auction, and had left their produce at one of the shops to return on Friday with the hope that the auction would be held.
The prices of copra which was hovering near Rs 17,000 per quintal during the first week of November has crashed to Rs 6,000 in the last 20 days. The crash in prices has worried not only the farmers but also the traders and middlemen.

More than 75 per cent of families in Arsikere taluk are dependent on the coconut crop. The prices per quintal which saw a marginal increase from Rs 17,000 to Rs 19,000 during August,  raised hopes among the growers that it may cross Rs 20,000 per quintal. But, shockingly the prices crashed to Rs 11,300.

Those who had purchased 1,000 coconuts for Rs 20,000 at Rs 20 per nut, and the traders who had purchased the produce when the price was at Rs 17,000, have been affected due to the price crash.

Reasons

According to some, the online trading at APMC was beneficial to both the trader and the customer. Later, some of the traders, started business outside the market, which affected online trading as well as crash in prices. Some others say that the arrival of groundnuts and sunflower seeds in large numbers was also the reason for the copra auction being stalled.
DH News Service