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The fall in market price of Areca nutsBY: Muhammed Haris | Category: Business and Finance | Post Date: 2009-07-12
Coconuts and Areca nuts have been the main crops of Indian coastal area. A few a years ago, there was a very good market price for Areca nuts in the market. But later there was huge fall in the market price. So the farmers who have planted the Areca nuts are in trouble now. People had invested lot of money to fertile their land, could not even get it back. It is not even easy for one to switch Areca nut plantation land into another crop. Areca nut plantation takes the period of minimum of 6 years to start getting the crops. So, farmers had to invest for continuously for six years to see the return on it. When there was a good demand for it, farmers had planted Areca nuts in all their lands and they had invested a lot expecting the good return from it. They had taken loan from the banks and financial institutions planning to repay it once the crops would be started. But the huge fall in the market price brought huge loss to them. Market prices were about 150 Rupees per KG (About three dollars). But later it fell up to 30 Rupees per KG (about a half dollar). The main reason for the fall in the Areca price was the Globalization. Globalization had opened the international market for Areca nuts as well. So the industries started importing Areca nuts from the countries like Srilanka, Malaysia etc at much cheaper. So it caused less demand for the Areca nuts grown in Indian coastal areas. For the uneducated farmers these things were unexpected and it was a big shock to them. Only few years ago they started getting the good market price for Areca nuts. At that time, they had planted Areca nuts even in the lands where they were yielding the rice and vegetables. So, the fall in the price of the Areca nuts was lesson to the farmers of coastal areas, about changing the crops in anticipation of earning good money by considering the present market prices. The farmers need to leave the decisions of neglecting the existing plantation and changing the plantation by considering the present market prices. Article Source: http://www.saching.com About Author / Additional Info: Hi I am Muhammed Haris, working for Hinduja (Formerly HTMT) Global Solutions,Bangalore,INDIA. You may reach me at muhar786@gmail.com or at +919739094168 Additional Articles: * My academic journey so far ... * Pain - Heart Break * Sex Toys for Men * Hottest Sectors in the next decade * Travel experience of my Delhi, Haridwar, Rishikesh and Agra trip Does this article violate or infringe on your copyright ? It is a violation of our terms for authors to submit content which they did not write and claim it as their own. If this article infringes on your copyrights, then use our Contact us form with the detailed proof of infringement along with the offending article's title, URL and writer name. If you do not hear back from us then contact us again in another 10 days. Thank you. Comments on this article: (0 comments so far) * Additional comments are now closed for this article *
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