10 days, areca price from 85,000 VND/kg down to 25,000 VND/kg

After only 10 days, the price of areca nuts has dropped from its peak of 85,000 VND/kg at the garden to a dizzying drop, now only 25,000 VND/kg.

Areca nut prices have plummeted too quickly, from 85,000 VND/kg to only 25,000 VND/kg - Photo: NGOC KHOI

On the afternoon of October 25, many lucky areca garden owners who sold their products said: areca nut price The price for pickers in the garden is 25,000 VND/kg. The price has plummeted but many garden owners are still waiting for buyers.

Areca nut prices plummeted too quickly

Mr. Hoang - Nghia Dien commune, Tu Nghia district, Quang Ngai - shook his head and said that in just half a month, the price of areca nuts has dropped dramatically. The areca gardens in the commune, which used to be crowded with areca pickers coming to look at the fruits and offer prices, are now deserted.

"I was able to sell a few bunches, but many people in the upper hamlet couldn't sell either. We don't have enough areca dryers to sell," said Mr. Hoang.

In the areca capital of Son Tay district with more than 1,000 hectares of areca plantations, there is also a "no" output. Areca purchasing points along the road have taken down their signs and closed their gates to stop buying. Mr. Huy (Son Tinh commune, Son Tay district) said: "Half a month ago, several areca purchasing points called to ask if they had areca to bring out. Now, I proactively brought them to the place but they said they stopped buying, so frustrating."

Ms. Nga, the owner of a areca nut purchasing point that is still buying in small quantities, said that the drying kiln she sells to is still being bought, but the requirements are very high, the fruits must be long and big. They refuse to buy the smallest fruits. So she also "forces" the areca nut pickers.

"When the areca nuts are delivered, I have to choose. I buy the good bunch, and I pay for the bad bunch. If I buy them, who will I sell them to?", Ms. Nga said.

Nghia Hanh district has the largest areca area in the provincial plains. Quang Ngai, with more than 700 hectares is also "deeply sad". Areca trees are ready to be harvested but areca pickers are absent. Some farmers are optimistic that the price of 25,000 VND/kg is still very good. The important thing is whether there are buyers or not.

In general, areca nuts in the Quang Ngai delta districts are difficult to sell. Mrs. Be (Tinh Ha commune, Son Tinh district) said that 6 days ago, she sold them for 75,000 VND/kg, this morning she sold 400kg for 25,000 VND/kg.

"In just a few days, I lost 20 million VND compared to the old price. Everything changed so quickly. Even though I knew the price would drop, I didn't expect it to be this fast. But I'm glad I sold it, I'm afraid if I wait a few days for the storm to come, everything will be ruined," said Ms. Be.

But to sell 400kg of areca nuts, she had to "beg" the areca nut picker. The picker saw that she was single so he helped her. Because the areca nut picker was also "ordered" by the kiln owner to pick only 500kg for today, after that amount they would not buy. This picker would normally go to each garden and pick a little to "keep the relationship".

Traders now buy less and choose beautiful areca nuts to pick - Photo: TRAN MAI

Chinese traders have withdrawn home.

Mr. L. (Nghia Hanh district) is still purchasing areca nuts for his family's drying kiln. He said that familiar Chinese traders who purchase areca nuts in Quang Ngai such as A Cay, A Ty, A Tru, and Hoa Chuong returned home five days ago.

According to Mr. L., since the price dropped sharply, Chinese traders who did not receive information from companies in the areca candy industry in China have returned home. Some traders in Hanoi who went to Quang Ngai to negotiate directly with Chinese traders to buy areca nuts at the kiln have also "withdrawn".

"My family's kiln still has orders so it will continue to purchase and dry. After this batch is over, we will continue to collect or stop depending on the situation," said Mr. L., adding that although the price has plummeted, 30,000 VND/kg is still very good, and areca growers are not affected much. The only problem is that the kilns have dozens of tons of dried areca left unsold.

H., traders When buying dried areca nuts, they said that Chinese partners rarely buy anymore. They have high requirements and only accept fruit that meets standards.

"We don't know what to do when buying. If they set the standard and price like that, and we buy, and then a few days later they raise the standard and we have to keep the goods, we will lose a lot. They don't transfer the money in advance, so I still don't dare to buy at a low price," Mr. H. confided.

According to experienced traders in the areca nut buying and selling industry to China, the price of areca nuts from now until the end of the season is unlikely to recover, but will continue to plummet.

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