A SERIOUS SHORTAGE IN CHINA HAS INCREASED BETEL NUT IMPORTS FROM VIETNAM

In 9 months of 2024, Vietnam’s betel nut exports reached 28.99 million USD (about 730 billion VND). China is the main market importing this item from Vietnam, with a value of 27.34 million USD (nearly 700 billion VND). This is an increase of 12.66 million USD compared to the same period last year. In September alone, the value of betel nut exports to this country increased by 621%.

In addition to China, Vietnam has exported betel nuts to about 10 other markets, such as the US with nearly 1 million USD, Thailand with 258,000 USD, Nepal with 141,000 USD, India with 88,000 USD, Sri Lanka with 64,000 USD, and Bhutan with 29,000 USD.

A serious shortage in China has increased betel nut imports from Vietnam.

Explaining China’s sudden increase in buying betel nuts from Vietnam, Mr. Dang Phuc Nguyen, Secretary General of the Vietnam Fruit and Vegetable Association, said that: During this time, there was a shortage of betel nuts due to the impact of typhoons. Numerous betel nut gardens on Hainan Island suffered damage. It is estimated that the production of betel nuts on the island this year will decrease by 40%.

By June 2023, the growing area of betel nuts in Hainan province had reached 2.5 million acres, equivalent to more than 1.01 million hectares. This is the source of 90-99% of China’s betel nut production. Therefore, China must increase imports from other countries, such as Vietnam and Indonesia, to make up for the shortage.

Besides, the price of betel nuts in China has continuously increased due to the yellow leaf disease, causing the supply to reduce. The above two reasons have caused the purchase price of betel nuts in the market to rise to a record high.

When the supply of betel nuts in China is scarce, the price in the country increases, leading to the price increase in Vietnam.

From the beginning of the season, the price of betel nuts is over 45,000 VND/kg.

In previous years, the price of betel nuts ranged from 4,000 to 7,000 VND/kg. However, in 2024, from the beginning of the season, the price of betel nuts is over 45,000 VND/kg. By June, this item ranged from 45,000 to 57,000 VND/kg, then increased to more than 60,000 VND/kg. By October, the price reached 80,000 VND/kg. The highest price was more than 85,000 VND/kg in Quang Ngai and nearly 100,000 VND/kg in Quang Nam.

To prevent high prices, some processing plants in China have adopted a “price limit” measure, forcing some farmers in China to lower their prices.

According to the Hainan provincial price monitoring center, on October 18, the average price of betel nuts was more than 155,000 VND/0.5 kg, an increase of more than 175% compared to the same period last year. On October 21, it was VND 270,000/kg, an increase of 25% compared to the last month and 6 times higher than 2016. However, since then, this item has been on a downward trend. On October 25, the price of betel nuts fell to more than 120,000 VND/0.5 kg.

Meanwhile, in Vietnam, when traders stopped buying, the price of betel nuts has decreased sharply. Currently, the price is around 40,000 VND/kg.