China: High prices for green betel nuts in Haikou

The National Statistics Department in Haikou reported that the price of green betel nuts in Haikou is high because of high demand. The purchase price of the green nut increased from around 20 yuan [2.88 USD] per kg in this period last year to the current price of around 36 yuan [5.19 USD] per kg. That is a price increase of 80%. The surface area devoted to betel nut plantation in Hainan Province reached 100 thousand hectares this year.

Haikou betel nuts

People in the industry say that one of the reasons for the high market price of betel nuts is consumer habit. Market demand is strong. Another reason is the upgrade of betel nut processing factories in Hainan. In addition, Hainan betel nuts receive a lot of attention from processing factories because their product quality is high. Processing factories sign pre-order agreements with Hainan farmers with exclusive selling rights to safeguard their supply. These are the reasons why the price of betel nuts is in such a high position.

Source: Haikou Daily

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