Vietnam: The price of areca nuts has increased 10 times compared to last year

Published Aug 14, 2024

Tridge summary

Areca tree farming has become a profitable venture for many families in Vietnam, especially in Thanh Chuong, Nghe An, due to a significant increase in the price of areca fruit. The price has risen to over 65,000 VND/kg this season, up to 8-10 times higher than last year. This has attracted traders and led to advanced deposits and offers to buy entire gardens. However, the market is unstable due to its reliance on the Chinese market, and experts recommend growing areca in intercropping or on steep slopes to prevent erosion, and caution against mass planting due to the unpredictable prices and demand.

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

Original content

The family of Ms. Nguyen Thi Huong, Thanh Hoa commune (Thanh Chuong, Nghe An) planted 500 areca trees, of which 250 have been harvested, and the remaining 250 are still in the development stage. Since the beginning of the season, her family has sold nearly 100 kg of areca fruit, the price at that time was 52,000 - 55,000 VND/kg. "Every year, it will start from the 15th day of the 6th lunar month to the end of the 11th lunar month, divided into 4 harvests, about 20-25 days for a harvest. Of which, the 2nd and 3rd harvests give the highest yield. The selling price at the beginning of the season was 50,000 VND/kg, but for about a month now, the price of areca has increased sharply, to 55,000 VND, 60,000 VND and now 65,000 VND/kg. Compared to last year, it has increased 8-10 times,” Ms. Huong shared. With the characteristics of hilly land, areca is a fairly common crop in the gardens of households in Thanh Nho, Thanh Hoa, Phong Thinh, Cat Van, Hanh Lam communes (Thanh Chuong). ...

Source: Danviet