Cash-strapped Bangalore University wants to make money. By selling jackfruit
- After tamarind trees, the Bangalore University is now looking to tap into the 50-odd jackfruit trees grown on its Jnanabharathi campus.
Bangalore University, which has more than 650 affiliated colleges, has decided to auction off the 50-odd jackfruit trees on its 1,000-acre Jnanabharathi campus ahead of the upcoming jackfruit season.
The varsity had tried to auction off the trees last year but did not gain any revenue due to the lack of demand and buyers. Officials have told media that last year's attempt was also hindered by the pandemic effect and that they are more hopeful about making a profit this year.
The auction is set to take place on May 31 and the university has some rules in place. The auction will start at 11.30 am and all bidders are required to pay a deposit of ₹5,000. The highest bidder will then be given a tender to harvest the yield. However, university authorities may decide to revoke the auction if they are not content with the highest bidding price. The university will, in that case, refund the deposits paid by the bidder.
BU has also decided that the auction will only go forward if there are a minimum of three bidders. If less than three participants enrol for the auction, the university will reserve its right to call off the auction and set up a later date for the same.
BU had previously sold yield from its 500 and more tamarind trees in the past few years, which was a successful venture for the cash-strapped varsity. Officials from the university have told media that most of the jackfruit grown on its campus goes missing as passers-by, who include joggers, students and the common public, simply pluck them for their consumption.
Therefore, as the season kicks in for jackfruit to start ripening this year, officials have chosen to conduct an auction to avoid theft. A report said the average number of bidders the BU has got for its previous tamarind auctions ranges from 12 to 14.
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