Bắc giang
China doubles imports of Vietnam’s areca nuts
China’s doubled its imports areca nuts from Vietnam to $27.3 million in the first nine months, seeking to offset a significant drop in domestic supply caused by adverse weather conditions.
It accounted for 94% of Vietnam’s total $29 million exports. Other buyers included the U.S., Thailand, and Nepal.
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Areca nuts are harvested in Quang Nam Province, central Vietnam. |
As Haian island province, where more than 90% of China’s areca nuts are produced, was severely affected by storms, China had to source more from other countries such as Vietnam and Indonesia, according to Dang Phu Nguyen, general secretary of the Vietnam Fruits & Vegetables Association.
Diseases also reduced China’s areca nuts production and pushed prices up to a new height of CNY45 (US$6.32) per 0.6 kilogram earlier this month, six times compared to 2016.
Areca nut prices in Vietnam this year have also surged to nearly VND100,000 per kilogram at some point but have now halved to VND50,000.
The nuts are used to produce candy. They contain arecoline which can bring a sense of enhanced alertness and mild feelings of relaxation.
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