Quang Ngai is one of the localities with the largest areca nut growing area in the country, concentrated in the communes of Son Tay, Son Tay Thuong, Son Tay Ha, Dinh Cuong, Thien Tin... with a total area of over 2,000 hectares.
If in the same period last year, the price of fresh areca nuts was at a record level, ranging from 65,000 - 85,000 VND/kg and remained high for 6 consecutive months, this year, the market has "cooled down", with the current price of areca nuts being only about 20,000 VND/kg.
Although it has decreased sharply compared to last year, the current price still brings quite a profit to areca growers, because if they only need to sell from 8,000 - 10,000 VND/kg, farmers will make a profit.
Ms. Nguyen Thi Canh, a areca trader in Truong Quang Trong ward, shared: Every day I buy about 3 quintals of fresh areca nuts. A week ago, the price was still at 25,000 VND/kg, but now it has decreased to 20,000 VND/kg".
Ms. Canh said that areca nut prices depend heavily on import demand from the Chinese market, so they are very erratic, causing sudden fluctuations, making growers and traders worried.
Thanks to high prices, many households in Quang Ngai have expanded their areca growing area. This is a type of plant that is easy to grow, has few pests and diseases, low investment costs, and has a life cycle of decades. If the season is right and the price is right, areca nuts bring in a high source of income that is superior to many other crops.
However, because most of the fresh areca nuts are consumed in China - a market with many potential risks - the Quang Ngai agricultural sector recommends that farmers should not grow in large numbers according to the movement, but should diversify crops to minimize damage when the market fluctuates.
Some traders directly harvesting areca nuts said that the price of areca nuts has remained high for a long time thanks to strong purchases by China. Wherever the harvest is harvested, there are buyers.
Many local fresh areca processing kilns also confirmed that although there is no "pric fever" like last year this year, the market is still consuming regularly, without any backlog.
After being exported to China, areca nuts are used to process candy. However, to make areca nuts truly a major and sustainable crop, local people expect authorities, businesses and policymakers to have a long-term strategy - conduct deeper research on the consumption market, build a stable chain of linkages - to avoid the situation of a low season.
When the price of areca nuts increases, growers and homeowners grow them; but when the price drops miserably, farmers cut them down and abandon them without any pity.
