We have all kinds, they're just expensive!

Currently, betel nut prices are at record highs, 8-10 times higher than the same period last year. Fresh betel nuts are now priced between 80,000 and 100,000 VND/kg, while loose betel nuts of lower quality are only 60,000 to 70,000 VND/kg, depending on their quality.

With the sharp increase in betel nut prices, especially as the wedding season in Northern Vietnam begins, many people are wondering if the supply will become scarce. However, when reporters from Dan Viet newspaper directly investigated major markets like Long Bien and Dong Xuan – leading betel nut suppliers in Hanoi – the situation regarding betel nut supply was not entirely as people feared.

Ms. Dao Thi My, a small trader at Dong Xuan Market (Hanoi), said that the supply of betel nuts is not scarce as rumored. "Betel nuts are always available; we can supply as much as you need, it's just that the price won't be as low as usual," Ms. Dao said.

"The price of betel nuts has now increased 8-10 times compared to normal times. The main reason is believed to be that traders are scrambling to buy up all the supply for export or resale at higher prices, driving up the price of betel nuts," Ms. My added.

Ms. Dao Thi My, who has been selling betel nuts at Dong Xuan Market (Hanoi) for nearly 20 years, said that the high price of betel nuts is real, but the scarcity is due to traders competing to drive up prices, creating a sense of shortage. Photo: Vu Ly

Typically, this fruit fetches the highest price during Tet (Lunar New Year) due to high demand, after which the price gradually decreases. Every year during the summer, the price of betel nuts is around 10,000 VND per kilogram, but this year it has continuously increased, reaching record highs.

Another small trader at Long Bien market, Ms. Nguyen Thi Mien, also commented: "It's not that there are no betel nuts, but rather that traders are competing to buy them in advance to create a sense of scarcity, then driving up prices to make a profit. Consumers, lacking information, are easily influenced psychologically, fearing shortages, so they accept buying at high prices."

Ms. Nguyen Thi Mien (right), a betel nut vendor at Long Bien Market (Hanoi), shared that it has been a long time since she last saw such a surge in betel nut prices. However, she affirmed that most of the information about betel nut scarcity is inaccurate and merely a tactic to drive up prices. "In reality, the supply is still abundant; we can meet consumer demand," Ms. Mien added. Photo: Vu Ly

Ms. Mien also emphasized that, in reality, the amount of betel nuts imported to the markets remains relatively stable; only the price fluctuates due to the manipulation of traders.

The supply of betel nuts is not actually lacking, but consumers tend to be more selective during wedding season. Ms. Mien added: "We import betel nuts daily from various provinces, but the price can vary depending on customer demand. Beautiful betel nuts will naturally be more expensive, while smaller, less attractive ones will be cheaper."

Mr. Huy Hoang, a wedding supplies seller in Hanoi, also shared more about the price of betel nuts during this year's wedding season: "The demand for betel nuts as wedding gifts has increased, making beautiful betel nuts scarcer, and their prices on the market have skyrocketed."

Source: https://danviet.vn/gia-cau-tang-cao-ky-luc-dung-mua-cuoi-tieu-thuong-ha-noi-noi-bao-nhieu-cung-co-chi-dat-thoi-20241022104011864.htm