Areca nut price hits new peak of over 100 thousand VND/kg, what are traders afraid of?

Báo Công thươngBáo Công thương16/10/2024


At this time, areca trees are in full harvest. The fever of fresh areca nuts is not only happening in the Central Highlands but also in the Northern provinces, the price of areca nuts is also "dancing" every day.

In Hanoi, the price of fresh areca nuts purchased by traders ranges from 50 to 80 thousand VND/kg and will continue to increase in the coming days.

Hà Nội: Giá cau lập đỉnh mới hơn 100 nghìn đồng/kg, thương lái sợ điều gì?
The price of fresh areca nuts in Hanoi has hit a new peak, causing the fever for this fruit to show no signs of cooling down. Photo: Bao An

Leading us into the areca garden with more than 100 trees, Mr. Dung (in Van Nam commune, Phuc Tho district) said: "This year, areca prices are high, but the harvest is bad. Every day I see the price increase, I feel regretful because not every year the price is as high as this year. It is very possible that after the price storm, in a few years, areca prices will fall miserably again."

Next to Mr. Dung's family garden, Mr. Mai's areca garden, although not yet ready for harvest, many traders have come to deposit and offer to buy young areca trees, but Mr. Mai is still in no hurry to accept the deposit and is waiting for the areca price to increase before selling.

Hà Nội: Giá cau lập đỉnh mới hơn 100 nghìn đồng/kg, thương lái sợ điều gì?
Mr. Tinh - a trader in Hanoi has been busy buying from gardens these past few days to take advantage of the "price storm" of areca nuts. Photo: Bao An

These days, at areca nut buying points in some communes of Phuc Tho and Dan Phuong districts, Hanoi city, there are bustling motorbikes carrying areca nuts in and out. At Mr. Hung's areca nut buying point (in Van Phuc commune, Phuc Tho district), in just the morning, dozens of motorbikes of traders in the area are bustling to sell tons of fresh areca nuts.

Mr. Hung said that the areca fever has been going on for more than 2 months now. Up to now, the areca price is still increasing at a record rate every day and will continue to increase from now until Lunar New Year.

According to the explanation of the areca buyer, this year's areca crop was bad; meanwhile, the high demand for processed areca from China caused this fruit to "sell out".

Theo ông Hùng, giá cau lễ lên tới hơn 100 nghìn đồng/ký vẫn đang cháy hàng (Ảnh: Bảo An).
According to Mr. Hung, the price of areca nut is up to more than 100 thousand VND/kg and is still out of stock. Photo: Bao An

“There was a time when my family imported nearly 3 tons of areca nuts every day. It only took time to purchase, then the car would come to my house to transport them to the processing points. At this point, the amount of fresh areca nuts is scarce and there are many other purchasing points, so each day we can only buy about 1 ton,” Mr. Hung said, adding that the areca nut fever has never been so big.

Currently, Mr. Hung's point buys areca nuts from traders picked in the gardens at a price of 50 to 80 thousand VND/kg, depending on the type. The price of fresh areca nuts has skyrocketed, causing the price of areca nuts to also increase and reach a new peak of more than 100 thousand VND/kg.

While meticulously trimming the areca bunch, Mr. Hung said that the areca bunch is mainly sold for 3-6 thousand VND/fruit, depending on the beauty of the areca. When sold by weight, the areca bunch is sometimes sold for 120 thousand VND/kg but there are still no products to sell.

Hà Nội: Giá cau lập đỉnh mới hơn 100 nghìn đồng/kg, thương lái sợ điều gì?
Record increase in areca nut prices puts traders at risk of being "areca nut thieves" and being "turned around" by gardeners. Photo: Bao An

After nearly a day of rushing to the gardens to buy areca nuts, Mr. Tinh - a trader in Hanoi said that the record increase in areca nut prices has given traders like him more income, but they have to face many risks and the most worrying issue is the problem of "areca thieves" or the gardeners themselves "turning around" to return the deposit and then selling off when someone offers a higher price.

“Areca nuts are expensive, so to get a source of goods, we have to deposit money with the gardeners. However, many gardens have been visited by thieves or the gardeners themselves have played tricks, making it difficult to buy areca nuts, and accessing the source of goods has become more cautious,” said Mr. Tinh.

The price of areca nuts depends entirely on the Chinese market, so it is difficult to maintain stability. One year, the price of areca nuts reached 70,000 VND/kg, but just a few days later, the price dropped to less than 10,000 VND/kg.

The lack of price stability makes many households in the suburbs of Hanoi not interested in areca trees, they mainly plant them around fruit gardens to earn extra income.

Faced with this year's unexpected developments, with high areca prices, many localities still advise people to be cautious and not to massively expand acreage to follow prices...



Source: https://congthuong.vn/ha-noi-gia-cau-lap-dinh-moi-hon-100-nghin-dongkg-thuong-lai-so-dieu-gi-352749.html

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