Fierce Competition for Fresh Areca Nuts in Quang Ngai Province as Prices Skyrocket Due to High Demand from China

The competition to buy fresh areca nuts in Quang Ngai province is currently fierce, with traders paying between 50,000 – 55,000 VND per kilogram. The price of this commodity depends on the supply and demand in the Chinese market, as China is the main consumer. Traders purchase the nuts from gardens, transport them to collection points, separate them from the stems, and dry them. One kilogram of dried areca nuts produces seven to eight kilograms of fresh nuts that are then exported to China for making candy.

The price of areca nuts peaks during Tet when demand is high, reaching over 100,000 VND per kilogram before gradually decreasing. However, this year prices have continuously increased since April when they were around 25,000 VND per kilogram and doubled to 50,00-55,000 VND per kilogram in June. This price point is five times higher than it was during the same period last year.

Despite the increased prices, traders continue to compete fiercely to buy areca nuts in order to maintain their relationships with gardeners. Gardeners benefit greatly from this price spike and earn significant income by selling each bunch of areca nuts they produce. For example, Ms. Tran Huyen Thanh earned about 8 million VND after selling 40 bunches of areca from her garden during a recent harvest season.

Quang Ngai may not be the locality with the highest purchasing price for areca nuts but has attracted many buyers due to its reputation as a major producer of this commodity in southern Vietnam. In Son Tay district alone, known for its thousands of areca palms trees, traders have been rushing to purchase fruit from gardeners as soon as it becomes available during the full harvest season later this year. However, premature harvesting has caused delays due to colder weather in mountainous areas which is affecting both gardeners and traders alike who hope that prices will remain high during the main crop season allowing them both a good harvest.

In summary, despite the increase in prices for fresh areca nuts in Quang Ngai province and other regions across Vietnam due to high demand from China and limited supply caused by colder weather conditions in mountainous areas; farmers continue to sell their produce at premium prices which benefits both them and traders who compete fiercely for these valuable resources while hoping that weather conditions will improve soon so they can reap a bountiful harvest at fair market rates.