Areca nut price remains at a high record

Areca nut prices have maintained record prices in the past 6 months

Since March of this year, people have started harvesting areca nuts, and the price from the beginning of the season has been over VND 40,000 per kg. Areca nut prices have begun to dance in a continuous upward trend. By May, the price remained at over VND 50,000 per kg.

Over time, the price of areca nuts has continued to increase. On October 9, the price of areca nuts was VND 80,000 per kg, and by the morning of October 10, it was VND 83,000 per kg.

On the morning of October 10, Hung - a selector and buyer of areca nuts at a garden in Tu Nghia district, said: "Every morning, we have to ask the owner of the kiln (where we buy areca nuts) about the price of areca nuts before picking. The price is high now so we need to calculate carefully. Yesterday, it was VND 80,000 per kg; this morning, it was VND 83,000 per kg. Tomorrow's price is not yet clear."

In the mountainous district of Son Tay, known as the "areca land", there are currently more than 1,000 hectares of areca trees. This season, the farmers have a good harvest.

Farmers said the price was high in previous years, from VND 4,000 - 7,000 per kg. In the best year, traders bought VNd 30,000 per kg. This year, after 6 months, the price has never been below VND 40,000 per kg.

On average, areca trees planted for 7 years will have stable fruit, and each crop lasts 7 months. About 20 - 25 days from when the areca flowers, the fruit will be ready to sell.

Duong's family (Son Dung commune, Son Tay district, Quang Ngai) grows 2,000 areca trees on a 2ha hill. Monthly income is never less than VND 100 million.

Nghia Hanh district is the areca land in the Quang Ngai Plain, with over 700 hectares. Areca in Nghia Hanh is very popular with traders, so the price is also higher.

Le Thi Nen (Hanh Thuan commune, Nghia Hanh district) has more than 200 areca trees bearing fruit, selling more than 100kg each time, earning nearly VND 10 million.

Areca nut prices increase due to strong buying from China

According to traders who directly pick areca nuts, prices have increased and remained high for many months because China has been buying very strongly. As soon as areca nuts are picked, they are bought. Many wholesalers and areca processors also said that China has not shown any signs of reducing purchases this year, so prices have increased continuously.

Areca nut prices have reached a record and have remained high for many months. However, local authorities do not encourage people to increase the planting area massively. The Department of Agriculture and Rural Development of Son Tay district also recommends that people increase the area according to the plan, not arbitrarily.