Vietnam: Areca growers in Dak Lak stand still when the price of areca is low

Published Oct 3, 2022

Tridge summary

The article highlights the significant decrease in the price of fresh areca fruit in Dak Lak province, Vietnam, from over 100,000 VND/kg to as low as 15,000 VND/kg, causing concern for farmers and buyers. This price fluctuation, attributed to the volatile demand from the Chinese market, which is a major consumer of areca for toothpaste and candy production, has negatively impacted both farmers and processing businesses that have invested in areca cultivation and processing facilities. The unpredictable market trends and the need for stable prices have been emphasized as challenges for the sustainability of areca farming in the region. Experts suggest that farmers should reconsider their strategy in light of the unstable market and the need for more stable and policy support for areca cultivation.

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

Original content

During the peak period in 2021, the price of fresh areca fruit was more than 100,000 VND/kg, causing houses in Dak Lak to race to grow this tree. But from September to now, the price of areca has dropped sharply, sometimes only 15,000 VND / kg, making farmers and even the owners of purchasing and drying establishments in Dak Lak province stand still. Mr. Phan Xuan Hoa from village 85, Ea Tieu commune, Chu Quynh district, Dak Lak province has been involved in the cultivation of areca for nearly 40 years. His family has 6,000m2 of land specialized in growing areca business. Previously, the price of fresh areca fruit was not high, but it was quite stable, he said. About the past 3 years, the price of areca has been constantly fluctuating, like in 2021, sometimes up to 120,000 VND/kg. However, from the peak, the price of areca has dropped to just over 20,000 VND/kg. “The output of areca this year is still the same but the price is much lower. Last year, the most expensive price of ...

Source: Vov