Myeik Tsp areca nut growers suffer losses due to price decline

The price of areca nuts continued to plunge this year in Myeik Township, Taninthayi Region, making the growers suffer huge losses, a farm owner stressed.
Price of areca nut fetched K30-40 per piece last year. The price this year plummeted to K10 per piece. Therefore, the market is about to collapse.
“The demand is pretty low this monsoon season. High input cost including labour wages and fuel prices poses a burden on growers. The market comes close to collapse”, said a farm owner from Myeik Township.
Earlier, the depot owners made advanced purchases of areca nuts. This year, they do not provide upfront payment.
“There is a possibility of no demand for dried areca nuts in summer. So, the growers are holding a last straw as the market is close to downfall. They are hoping for a market recovery in 2024,” a farm owner from Tonbyaw village in Myeik Township elaborated.
The areca nut growers in the Taninthayi Region are anticipated for market return in the upcoming year. The areca nuts are produced in Launglon, Yephyu, Kaleinaung, Thayetchaung, Palauk, Palaw, Myeik, Bokpyin and Kawthoung townships. Of them, Taninthayi is the leading producer. — Myint Oo (Myeik)/EM