Prices of fresh areca nuts in Việt Nam hit record highs due to Chinese demand

Published 2024년 10월 21일

Tridge summary

China's import of areca nuts from Vietnam has risen due to a shortage in domestic supply, caused by yellow leaf disease in areca nut trees in Hainan. This has led to a surge in prices in Vietnam, making it a profitable market for farmers. However, the heavy reliance on the Chinese market brings risks of price volatility. To mitigate these risks, Vietnamese farmers need to focus on quality management, diversify export markets, and develop value-added processed products. Collaboration with other countries and advanced processing techniques can help stabilize the areca nut industry.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Traders attribute the price increase and the sustained high levels over recent months to China’s shortage of domestic areca nut supply, leading to an uptick in imports from Việt Nam. Prices of fresh areca nuts in Việt Nam have surged to record highs, primarily driven by strong demand from China. In provinces like Quảng Ngãi, Đắk Lắk, Tây Ninh, Tiền Giang, and Kiên Giang, areca nuts are being sold at VNĐ80,000 - VNĐ85,000 per kilogram. In northern areas such as Bắc Ninh and Nam Định, prices have reached up to VNĐ90,000 per kilogram due to limited supply. Traders attribute the price increase and the sustained high levels over recent months to China’s shortage of domestic areca nut supply, leading to an uptick in imports from Việt Nam. China is a major consumer of areca nuts, with Hainan being the main production region, accounting for 90 per cent of the country's fresh areca output, with Wanning County contributing half. However, since the 1980s, the areca nut trees there have been ...

Source: WTOCenter