China buys the most Vietnamese areca nuts in 2024, fresh areca nut prices increase to unprecedented highs, why is that?

Currently, the price of fresh areca nuts in many localities in Vietnam is increasing to a record high. Accordingly, in provinces such as Quang Ngai, Dak Lak, Tay Ninh, Tien Giang, Kien Giang, the price of areca nuts ranges from 80,000 - 85,000 VND/kg. Particularly in the northern region such as Bac Ninh, Nam Dinh, the price of areca nuts can even reach 90,000 VND/kg due to limited supply. Traders who directly purchase areca nuts said that the reason for the increase in areca nut prices and their high level for many months is that China is lacking supply, leading to increased imports of areca nuts from Vietnam. China's areca nut market: Crisis and demand To understand why China is increasing its purchases of areca nuts from Vietnam, we first need to understand the situation of the areca nut market in this country. Wanning, a district in Hainan province, plays a very important role in supplying fresh areca nuts to China. Hainan produces up to 90% of the country's fresh areca nut ...