High areca nut supply meets low market demand

photo 2024 05 02 12 59 17
A betel farm and some female workers picking betel nuts.

“Betel nut supply is currently high, but demand is low in the market, according to traders. It is due to transport conditions. Prices of other commodities increased, but not betel nut. Its price has only increased by K200 compared to pre-Thingyan. The price of bags used to pack nuts jumped by K400 each. A bag costs over K5,000, while betel nuts cost around K4,000. It is now about K3,800-K4,000. Due to rising price of bags, it is not profitable,” said the owner of Oo Thwe betel nut retail and wholesale shop in Myeik.
With few exports, there is plenty of supply in the domestic market.
“Betel nut is mainly exported to India. As the route situation is not good, we no longer deliver our products from Myeik to Tamu but send them down to Kawthoung for export to Ranong. The local betel nut production in one year cannot be consumed in three years. It has to rely on the export market. As demand is low while supply is high, betel nut price doesn’t increase, and that’s the nature of the market,” said a betel nut trader from Myeik. — Thit Taw/ZN/ED

Share this post
Hot News
Hot News