Thailand has made orders for areca nuts produced from Taninthayi Region, and currently, the price has been high with domestic purchases.
The areca nut market made losses in 2023, though the price has bounced back, and traders have expected this is a year that they can make profits.
“We have received orders from Thailand this month. The domestic retail market has been doing well. But we mainly rely on exports. Most of the traders suffered losses last year. This year, the buying price is lower than last year’s, and the selling price is a little higher, so there is a likelihood of making profits. This is an overall estimate for the whole region,” said an official from U Thwe areca nut distribution in Myeik township.
In Myanmar, areca nut palms are mainly grown in Toungoo in the eastern Bago Region, Thaton, Dawei, Myeik, Pyapon, Mandalay, Kyaikkhami, and Sittway. Areca nuts are harvested in Thadingyut, Tazaungmon and Nattaw (Myanmar lunar months).
“Areca nut is a best-seller item in Myanmar. However, the actual market demand has been low because supply is quite large. But this year, we have expected to make profits. In the domestic market, retail trading is better, at present,” said U Maung Maung, who trades areca nuts in Yangon. — Thit Taw/ZS
