Low stock, short supply and purchasing from China are the reasons for the slight increase in green areca nut prices, according to the market.
“Young betel nut price is now slightly increasing. It varies from day to day. The price has changed three times in the last few days. The reason is the lower stock. Then the price goes up. As buyers rush to buy amidst the low stock, there is fluctuation in the market opening price rather than a rise in price. In later days, it is expected to fall again,” said a betel nut shop owner from Myaungmya township.
Currently, young areca nuts in the market are produced by Myaungmya, and there are some products from Mawlamyine, Dawei, and Ye townships.
The wholesale price has recently changed, and it has become K3,300-K3,600, compared to K2,900-K3,200 per viss of betel nuts.
There are some Chinese buyers for green areca nuts (locally called juicy betel nut), which are cured by heating and drying before export. Green areca nut is a new market that has recently emerged for the benefit of areca palm farmers, and the nuts are harvested young rather than waiting for them to mature. — Thit Taw/ZN
