Areca Nut Exports Increase 120-fold
According to a summary report from the Vietnam Fruit and Vegetable Association (VINAFRUIT), in August, Vietnam’s betel nut exports reached US$9.28 million, an increase of more than 120 times compared to the same period in 2023. The cumulative export value for the first eight months of 2024 reached US$21.2 million compared to the same period last year, an increase of 51.3%.
Betel nuts have become Vietnam’s 13th largest export item in the past eight months, surpassing almonds, lychees, macadamia nuts, and rambutan.
The price of fresh betel nuts in Vietnam has reached a historical peak of 80,000 – 90,000 VND/kg due to increased imports from China, creating opportunities for many farmers to increase their income.
This price surge stems from China’s shortage of supply, leading them to increase imports of betel nuts from Vietnam and some neighboring ASEAN countries in preparation for the year-end consumption season.
Many localities such as Quang Ngai, Dak Lak, Tay Ninh, Tien Giang, and Bac Ninh have recorded high betel nut prices due to limited supply. However, this market still carries risks because betel nuts are not officially exported to China, only through border trade.
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