Supply of young betel nuts from Ye is exceeding demand, causing prices to fall significantly. Farmers in Ye told IMNA that buyers are now accepting only good-quality young betel nuts.
Traders buying for export markets, including China, have already secured sufficient quantities to meet their needs and are therefore purchasing only limited amounts from local buying depots.
The price of young betel nuts has fallen to around 4,000 kyats per viss. Farmers are also facing unstable prices and increased losses from rejected fruit, according to a young betel nut farmer in Ye.
“The price is only around 4,000 kyats now. They are becoming very selective about the fruit, and more nuts are being rejected. They buy the rejected ones for only 500 kyats per viss. It feels like we are practically giving them away for free,” the farmer said.
Young betel nuts initially fetched up to 7,000 kyats per viss at the beginning of the season but have since declined steadily. Farmers said buyers are rejecting or offering lower prices for fruit based on size, shape and maturity.
As a result, most farmers harvesting and selling young betel nuts are making losses, prompting many to stop harvesting young fruit.
“It is simply not profitable to harvest and sell young betel nuts. Last year, ripe nuts sold for 200 kyats each. I will just produce dried betel nuts now. If I make a loss, so be it. Everyone is facing the same situation. With the current cost of living, we are just trying to get by,” said another betel nut farmer from Ye.
At current market prices in Ye, a ripe betel nut sells for around 80 kyats per fruit, while dried betel nuts fetch about 10,000 kyats per viss.
Betel nut is one of the main commercial crops grown in Ye Township. The young betel nut market developed as buyers from China, Vietnam and Thailand began purchasing the produce, according to local farmers.
However, the market remains highly dependent on changes in overseas demand, conditions at border checkpoints and fluctuations in exchange rates, leaving local farmers with little control over the domestic market.
