The price of a kilogram of fresh areca nuts in mid-October 2024 was still 85,000 VND, but now it is only about 30,000 VND and fluctuates. According to the reporter's records, the price of areca nuts yesterday was 30,000 VND/kg, but today it increased to 40,000 VND/kg. A few days ago, it dropped to 25,000 VND/kg, making areca growers in Quang Ngai anxious about the price of areca nuts.
The reason for the decrease in areca nut prices after only 15 days is due to the Chinese market reducing purchases. Although areca nut prices have dropped sharply, 2024 is the year when areca nut growers in Quang Ngai have made the biggest profit ever, when areca nut prices have maintained a record level for more than 4 months, with prices continuously increasing, from 45,000 VND to 85,000 VND.
Normally, the price of areca nuts ranges from 8,000 - 10,000 VND/kg, which is enough for areca growers to make a profit. Therefore, with the current price of fresh areca nuts, the profit it brings is hard to match any other fruit tree in Quang Ngai.
Sharing with reporters, Ms. Pham Thi Truyen (59 years old), in Hanh Minh commune, Nghia Hanh district, said: "My family has about 200 areca trees that are bearing fruit, and has sold more than 1.4 tons of areca, with prices ranging from 65,000 - 70,000 VND/kg at each time, bringing a good income for the family."
Areca nuts in Quang Ngai are often purchased in small quantities by traders who come to the gardens and then transport them to drying kilns or areca dealers to sell to Chinese traders. However, the kilns purchase them at unstable prices, changing daily. “Areca nut prices ‘dance’, increasing and decreasing erratically. Every morning, I have to call areca nut purchasing facilities to ask for prices before I dare to buy areca nuts from farmers,” said Mr. Tran Van Tuan, in Hanh Nhan commune, Nghia Hanh district.
Quang Ngai province has about 2,000 hectares of areca, most concentrated in the mountainous district of Son Tay. This year, areca prices have reached a peak, and areca farmers have made huge profits. However, the province's agricultural sector does not encourage farmers to destroy other crops to expand the areca acreage, because the main consumer market for areca is China, which is inherently risky.
According to Chinese media, this year, the output of fresh areca nuts on Hainan Island - the raw material area that accounts for more than 90% of the areca nut growing area in China - has decreased sharply, due to yellow leaf disease on areca trees. In addition, Typhoon Yagi has caused many areca nut gardens to collapse, and it is estimated that the output of areca nuts on the island this year has decreased by 40%.
Areca nut prices have increased, and many Quang Ngai farmers have begun to expand their areca planting areas. However, there are no exact statistics on how much the areca planting area has increased, because farmers are scattered everywhere.
Sharing information with Lao Dong Newspaper reporters, Mr. Nguyen Quang Trung - Deputy Director of the provincial Department of Agriculture and Rural Development - said that the whole province has more than 2,000 hectares of areca. If the price is stable and there is an output, it will help areca growers have income. However, "the market is very unpredictable.
The provincial agricultural sector does not encourage farmers to destroy other crops to massively plant areca. It recommends that farmers plant areca in between suitable crops, or on fences... Diversifying crops helps farmers have a more stable source of income.
