Rs 9.5 cr profit for co-op

The Central Arecanut and Cocoa Marketing and Processing Co-operative Limited (Campco) has earned a profit of Rs 9.5 crore till the end of November 2005, Madhusudhan Rao, MD of Campco, told Business Standard here.

The co-operative which was making a loss was able to earn profits this year as the price of arecanut has shot up, even touching Rs 80 per kg and have stabilised to Rs 70 per kg now.

"The market was steady from April to June. There was variation in July. However from September onwards the market was on the rise and we sold our carryover stocks and hence able to earn profit," he said.

However, the chocolate factory at Puttur made a loss of Rs 1.40 crore till November. As for the decision not to export arecanut to Pakistan, he said it was a policy decision and the president of Campco Rangamurthy should announce it.

He was not available for comment.