A survey in the market of Can Tho City and many provinces in the Mekong Delta shows that the price of young areca nuts in Can Tho City and many provinces in the Mekong Delta has increased by at least 5,000-12,000 VND/kg compared to a month ago and is at its highest level in many months.
Accordingly, the price of young areca nuts (about 50-70 nuts/kg) is being sold by farmers to traders at 15,000-20,000 VND/kg. The price of young areca nuts is being purchased by many areca production and trading establishments at 25,000-27,000 VND/kg, this price is 3 times higher than in the last months of 2023.
The price of young areca nuts in the Mekong Delta region has been recorded to increase since June. At the end of June, the price of young areca nuts in Can Tho City and many provinces in the Mekong Delta region increased sharply by 5,000-10,000 VND/kg. The price of young areca nuts (50-70 fruits/kg) in the garden is 20,000-25,000 VND/kg, and sold at the warehouse is 30,000-35,000 VND/kg. This price is estimated to be 4-5 times higher than in the last months of 2023 and early 2024.
Regarding the reason for the sharp increase in the price of young areca nuts, many traders who specialize in purchasing areca nuts said that the price has increased because recently many small traders and businesses have increased the purchase and processing of young areca nuts for export to the Chinese market. Currently, exporting areca nuts to China is very favorable.
Purchasing young areca nuts to sell to Chinese traders at a facility in Can Tho City. Photo: Can Tho Newspaper.
Meanwhile, in one of the areca “warehouses” in the Central region – Quang Ngai province, the price of young areca nuts has increased 5 times compared to last year, reaching 50,000 VND/kg, while at the end of April, the price of areca nuts was only about 25,000 VND/kg.
It is known that after being purchased, young areca nuts will be separated from the stem, dried, and then exported to China to make candy.
It is known that fresh areca nut is the main ingredient to produce areca candy – a very popular product in some countries, especially China.
After buying young areca nuts, people often choose quality fruits (small seeds or no seeds), boil them in boiling water, then dry them, put them in bags and send them to the Chinese market to make candy.
This type of areca candy has a sweet, spicy taste like ginger candy, has the effect of preventing sore throats and keeping the body warm, so it is very popular in China.
For many years now, the price of areca nuts has fluctuated according to the erratic demand of Chinese traders. When the price of young areca nuts skyrocketed, many localities recorded a situation where people rushed to plant areca nuts.
The Department of Agriculture and Rural Development of Dak Lak province once advised farmers that areca nut is not a popular tree and its price is unstable, so farmers should not only plant it as an intercrop or in sloping areas to prevent erosion.
Similarly, the agricultural sector of Binh Dinh province also recommends that farmers should not plant areca trees en masse, but should only plant them along fences, in poor soil, and as landscaping. In addition, the market for this fruit is not large, mainly sold to China.
The Department of Crop Production (Ministry of Agriculture and Rural Development) also advised people not to be greedy for high prices and massively plant areca nuts to follow the trend, because the phenomenon of Chinese traders buying young areca nuts at high prices has been happening for many years in the Northern provinces, the Central region and the Central Highlands.