Traders of tamarind, areca nut end up losing on low price

The prices of tamarind and areca nut stayed low despite high prices of kitchen goods this year, breaking the expectations of those traders who kept the stocks in hand, according to the Bayintnaung Wholesale Market.
The traders forecast possible price rise of tamarind, and the majority of them from the tamarind producing areas stored the tamarind fruits, U Aung Soe, a tamarind trader from Mahlaing-Taungtha area told The Global New Light of Myanmar (GNLM). The tamarind prices move in the range between K1,150-K2,500 per viss on 3 November depending on the different varieties and quality. The prices were rarely changed this year from the harvest season.
Reportedly, new tamarind will flow into the market in late December. The tamarind prices have been on the low side for three consecutive years including that of 2022.
Those involved in the Bayintnaung Wholesale Market expected a low chance of price rise, unlike traders from other regions.
Tamarind is mostly produced in Kyaukpadaung, Popa, Pakokku, Yamethin, Shan State and Rakhine State, central Myanmar regions, Pyay, Myanaung, and Kyangin areas.
A tamarind tree is offered up to K100,000 depending on tamarind pods and tamarind-producing areas.  Tamarinds are stockpiled in the market owing to low exportation of tamarind, low usage in the food industry and regular consumption in the domestic market. Supply surpassed demand.
Similarly, the areca nut price continues dropping on the weak foreign demand this year, U Thein Win, a trader who buys areca nuts from delta regions to be sold in Yangon, told the GNLM. The prices of areca nuts peaked at K5,300-K6,200 per viss in 2022. This year, the prices touched a low of K2,800-K3,700 per viss in 2023.
Areca nut is primarily grown in Taninthayi and delta regions. Fresh area nuts are dried to be stored. The areca nut warehouses were mostly seen in the Bayintnaung market since before 2000s. — TWA/KK