Mawlamyine, October (15)
Betel nut suppliers told Than Lwin Times that they are facing losses due to the continuous decline in domestic and international demand and prices for betel nuts from Mon State.
The traders bought betel nuts at a high price when the dollar price rose, so they are now facing losses when the price drops.
One viss of betel nuts cost roughly 10,000 kyats when the value of the dollar increased, but the price has since dropped to about 6,000 kyats per viss.
On the other hand, the purchase of betel nuts from Mon state from home and abroad has decreased significantly in recent months. If the young betel nuts become abundant, the loss may increase, the suppliers said.
As the price of betel nuts continues to fall, there are few transactions in the market, and some betel market operators have stopped buying.
China used to buy juicy betel nuts at a good price in previous years, but since they stopped buying this year, and betel nut prices are falling, according to traders.
In Mon State, betel nuts are grown mainly in Ye and Thanbyuzayat Townships and exported to Yangon, Mandalay and Rakhine State, as well as to China and India.
News – Than Lwin Times
Thanlwintimes