The Hindu Business Line : Campco net profit up at Rs 8 cr; to pay 12%

Mangalore, Aug. 14 In spite of the economic slowdown in the country, Central Arecanut and Cocoa Marketing and Processing Cooperative (Campco) Ltd registered good performance in its core areas of activities during 2008-09.

Mr S.R. Rangamurthy, Campco President, told Business Line that the cooperative has witnessed record performance in arecanut procurement and sales and in production of semi-finished and finished cocoa products. He termed the performance in these areas as all-time high in the more than three-decade history of the cooperative.

Following this, the cooperative recorded a net profit of Rs 8.01 crore during 2008-09 as against Rs 6.93 crore in the previous fiscal. The board of the cooperative has recommended a dividend of 12 per cent for 2008-09, he said.

ARECANUT

Of the estimated arecanut production of around 4.90 lakh tonnes in the country, Campco procured around 50,247 tonnes of arecanut worth Rs 426.34 crore during 2008-09. During 2007-08, the cooperative procured around 39,175 tonnes worth Rs 345.89 crore.

In the last fiscal, the cooperative sold about 50,401 tonnes of arecanut worth Rs 464.79 crore against 42,483 tonnes worth Rs 410.63 crore in the previous year.

Mr Madhusudana Rao, Managing Director of Campco, said the cooperative managed to increase its share in the domestic arecanut market, in spite of the import of the commodity.

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