Areca Nut Gold Rush: Soaring Prices Drive Competition in Quang Ngai Province’s Trading Sector

The demand for fresh areca nuts is on the rise in Quang Ngai province, with prices now exceeding 50,000 VND per kilogram. Despite the high cost, traders are actively competing to purchase fresh areca nuts to maintain their business relationships and seize the opportunity for profit.

Throughout the rural and mountainous areas of Quang Ngai province, traders are busy buying fresh areca nuts from gardens at a price of around 50,000 – 55,000 VND per kilogram. The price of areca nuts fluctuates depending on supply and demand as well as the Chinese market, which is the main consumer of this product.

After purchasing the areca nuts, traders will transport them to collection points where they will be separated from stems and fruits before being dried. Typically, 7-8 kg of fresh nuts will yield 1 kg of dried areca nuts which will then be exported to China for candy production. Areca nuts are in high demand during Tet with prices exceeding 100,000 VND per kg before gradually decreasing in the summer months when prices typically range around 10,000 VND per kg. This year however, prices have been steadily increasing due to feverish demand from traders.

Growers like Ms. Tran Huyen Thanh in Nghia Hanh district benefit greatly from these high prices earning substantial income from selling their crops grown on their land. Although there is no precise statistics available on total production in Quang Ngai’s agricultural sector due to small garden cultivation; there has been a significant increase in production that has attracted many traders across the region seeking to take advantage of this profitable opportunity.