Areca nut | Photo: AFP
Kanhangad: The price of areca nut has skyrocketed surprising the farmers and merchants. Old areca nut has touched Rs 495 per kilogram in a private market in Kuttikkol. It was only Rs 440 per kilogram a week ago. Also the new areca nut harvested this year fetches about Rs 410.
The price of the low grade varieties of dried areca nut also is changing. New areca nut was priced Rs 266 and old one was priced Rs 298 an year ago. The price started soaring since then and touched the current rate.
However, the farmers are concerned as similar price hike in case of pepper and rubber was later followed by a steep decline in price. Pepper price had reached Rs 720 per kilogram three years ago, but it dropped to Rs 300 now. Rubber price also is in a similar state.
Merchants opined that the arrival of areca nut is low though the price is soaring. This is mainly due to the daily increase in the price. The decrease in import due to COVID, increase in demand and decline in production are the major reasons for price hike.