China spends twice as much money to buy Vietnamese areca nuts

Published Oct 29, 2024

Tridge summary

Customs data reveals that Vietnam has seen a surge in areca nut demand from China due to supply issues in Hainan Island, with the US, Thailand, Nepal, India, Sri Lanka, and Bhutan also importing significantly. However, Thailand, Nepal, Sri Lanka, and Bhutan have stopped importing Vietnamese areca nuts for 2023. The price of areca nuts in China has risen due to yellow leaf disease, while in Vietnam, prices have also increased but are lower than China's. Some Vietnamese areas have experienced a drop in prices.

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

Original content

The data was released by the Customs today. In addition to China, other areca nut consuming markets include the US, ranked second with nearly 1 million USD, Thailand with 258,000 USD, Nepal with 141,000 USD, India with 88,000 USD, Sri Lanka with 64,000 USD and Bhutan with 29,000 USD. Of which, some markets such as Thailand, Nepal, Sri Lanka and Bhutan will not import Vietnamese areca nuts in 2023, showing that demand this year has changed. According to Mr. Dang Phuc Nguyen, General Secretary of the Vietnam Fruit and Vegetable Association, the demand for areca nuts has increased sharply due to the supply on Hainan Island (China) - which supplies 90-99% of the country's total areca nut output - being severely reduced due to storms. Therefore, China has to increase imports from other countries such as Vietnam and Indonesia to compensate. Recently, the price of areca nuts in China has been continuously increasing due to the increasingly serious yellow leaf disease on trees, causing ...

Source: VNExpress