Any amount, just expensive!

Currently, the price of areca nuts is at a record high, 8-10 times higher than the same period last year. The price of fresh areca nuts is currently fluctuating from 80,000 - 100,000 VND/kg, while lower quality loose areca nuts are only from 60,000 - 70,000 VND/kg, depending on the type of areca nuts.

Areca nut prices have increased sharply, especially as the wedding season in the North is starting, many people are wondering if the supply is scarce. When Dan Viet reporters directly investigated at major markets such as Long Bien and Dong Xuan - the leading suppliers of areca nuts in Hanoi - the story about areca nut supply is not exactly like what people worry about.

Ms. Dao Thi My, a trader at Dong Xuan market (Hanoi) said that the supply of areca nuts is not as scarce as rumored. "Areca nuts are always available, we can supply as much as you want, but the price will not be as low as usual," Ms. Dao said.

"Areca nut prices have increased 8-10 times compared to normal times. The main reason is believed to be that traders are competing to clear out the supply for export or resale at higher prices, causing areca nut prices to skyrocket," Ms. My added.

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

Normally, this fruit is at its highest price during Tet due to high demand, then gradually decreases. Every year in the summer, the price of areca nuts is around 10,000 VND per kilogram, but this year it has continuously increased to new peaks.

Another trader at Long Bien market, Ms. Nguyen Thi Mien, also commented: "It's not that there are no areca nuts, but in fact, traders compete to buy first to create a sense of scarcity, then push up prices to make a profit. Consumers who lack information are easily psychologically affected, fearing shortages, so they accept to buy at high prices."

Ms. Nguyen Thi Mien (right), a areca nut vendor at Long Bien market (Hanoi), shared that it has been a long time since we have seen such a price fever as the current one. However, she affirmed that most of the information about areca nut shortage is incorrect, just a trick to push up areca nut prices. "In fact, the supply is still very abundant, we can meet all the consumers' needs," Ms. Mien added. Photo: Vu Ly

Ms. Mien also emphasized that, in reality, the amount of areca nuts imported to the markets is still relatively stable, only the price fluctuates due to the "hands" of traders.

The actual supply of areca nuts is not lacking, but consumers tend to be more "picky" during the wedding season. Ms. Mien added: "We import areca nuts daily from the provinces, but depending on customer demand, the price of areca nuts can vary. Beautiful areca nuts will of course be more expensive, while small, ugly areca nuts are cheaper."

Mr. Huy Hoang, a wedding goods seller in Hanoi, also shared more about the price of areca nuts during this year's wedding season: "The demand for areca nuts for wedding gifts has increased, which makes beautiful areca nuts more scarce, and the price on the market has also 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