Hainan's low betel nut output does not influence market prices
The betel nut is Hainan's second largest cash crop, accounting for 95% of the production in China. I…The betel nut is Hainan's second largest cash crop, accounting for 95% of the production in China. In the past, almost 2.3 million farmers in Hainan grew betel nuts. Growing areas reached up to eight hectares, with an output of 3.6 million tons and a purchase price of 5 Yuan per 0.5 kilo.
The average 0.7 hectare produces 500,000 grams of fruit. The overall revenue of Hainan's betel nut productions is 3.5 billion Yuan. This year's revenue is even more substantial.
The betel nut purchase price reached a new record this year. When in September betel nuts just entered the market, the price was 10 Yuan per 0.5 kilo. Although prices dropped twenty days before, compared to a few years earlier the price was still good; 7.5 Yuan per 0.5 kilo. On 31 October, the price was 8.8 Yuan per 0.5 kilo.
A few years earlier, low fruit prices caused farmers to have a lack of confidence. Therefore, it is predicted that the output of betel nuts decreases a little bit this year, but economic and social benefits are better than last year. Hainan will continue the promotion of environmental friendly roast technologies to increase the added value of the betel nut. The sales volume will be increased by putting an end to the rumour that the betel nuts cause cancer. China's betel nut market demand is growing, causing a increasingly tight supply.