Mangaluru : Cooperatives are not meant for profiteering, but for working diligently for members said , Aerya Lakshminarayana Alva on Thursday.

Inaugurating CAMPCO Day, to commemorate the cooperative’s founding day here, Mr. Alva said cooperatives should grow adopting the policy of of accepting and embracing all.

He said the contribution of CAMPCO in the economic empowerment of arecanut growers, who were in the clutches of traders, is laudable.

Founded by Varanashi Subraya Bhat in 1973, CAMPCO has been working for the cause of farmers , Mr. Alva noted.

Founding managing director G.K. Sangameshwara, in his keynote address, said CAMPCO that was established with the help of a loan of ₹25 lakh has reached newer heights by registering over ₹2,000 crore transaction in a year. He suggested that the CAMPCO management enhance the retirement age of employees to 60 on the lines of other government employees.

CAMPCO adviser and retired IAS officer V.V. Bhat said that research should be conducted about the benefits of arecanut in the background of adverse campaign on the produce.

CAMPCO should open up to newer arena and give priority to value addition to produces. There is need for kutcha roads to arecanut gardens while areca nut should be fro villages itself.

In his presidential address, CAMPCO president S.R. Satishchandra said the cooperative will soon establish a coconut processing factory on the lines of its chocolate factory, though its location is not finalised. To be set up soon, the factory would produce value added products from coconut, including coconut oil and juice.

Agriculture researcher Mahabaleshwara Bhat Kodapadavu was felicitated on the occasion.