Mawlamyine, December (29)
This year’s betel nut season in Mon State has seen a sharp decline in betel nut production, which has led to an increase in betel nut prices, the suppliers told Than Lwin Times.
Sales were decent in previous years because China bought juicy young betel nuts at a good price, but betel nut production has decreased significantly this season.
With the decrease in betel nut yield, the price of one viss of betel nuts jumped from 3,500 kyats to 4,100 kyats.
A betel nut trader said that the price of betel nuts has risen again due to the high demand for juicy betel nuts during the rainy season and the lack of betel nuts entering the market.
Amid the rise in betel nut prices, purchases for the purpose of storage and sale have increased, and China has also started buying betel nuts again.
Prices for betel nuts were around 10,000 kyats per viss in August, when the dollar price was rising, but later dropped to around 3,000 kyats per viss.
Betel nuts are mainly produced in the townships of Ye and Thanbyuzayat in Mon State, and are primarily exported to Yangon, Mandalay, and Rakhine State, as well as sold to foreign countries such as China and India.
News-Than Lwin Times