Betel nuts are selling at less than half the price they fetched last year in Ye Township, impacting local betel nut growers.
Though the betel nut price had declined during the 2017 Chinese New Year, it picked up after the festival. “This year, the betel nut price has been on a downward spiral. So, we expect the price to go up again,” said a local betel nut grower.
“A huge volume of betel nuts is entering the market this year compared with last year. However this year, the demand from Bangladesh has been low due to instability in the border areas between Myanmar and Bangladesh,” said U Arkar, a betel nut trader.
Last year, betel nuts sold for Ks9,700 per viss; however, now betel nuts are bringing in only Ks4,000 per viss.
There are nearly 150,000 acres of betel nut plantations across the country, with the Taninthayi and Ayeyawady regions and Mon State being the major producers.
Htut Htut (Ye)