Betelnut farmers and traders have got frustrated due to its low price in Rangpur region this year.
Local sources said the farmers earn additional income by producing betelnuts while traders and businessmen get profits by preserving and selling the item every year in the region. But this year, the farmers do not get reasonable prices despite bumper yields. The nut traders also have to suffer losses as they are forced to sell the produce at lower prices.
The region has a huge market of betelnut worth around several hundred crores taka. The item is largely transported to elsewhere in the country from here every season. Traders and businessmen from different parts of the country visit the local markets of the districts in the region to buy the product during the season. The money generated from trading of the produce provides additional financial support to many farmers.
Farmers of the districts feel interested in nut farming as they found it lucrative and viable. It takes less investment and labour. There is at least a garden in almost every household in rural areas of the districts.
Many of the growers and traders said the yield of betelnut is very satisfactory this year. The farmers were compelled to sell their produce at a lower price during the season April- June due to huge import in the local markets of the districts.
Farmers sold each betel nut between Tk 1 to Tk 3 during the season, which is usually sold at Tk 5 to Tk 7. But the price of the item has not been increased significantly resulting in the cause of losses.
Taking advantage of bumper production of the produce and huge supply in the markets during the season, the traders and wholesalers bought the item at a very low price, depriving the farmers of a reasonable price.
But the nut traders have to face losses now as they are being forced to sell their betel nuts at the purchase price for the downfall of the market.
Several traders said usually all the betelnut markets in Rangpur region get crowded from April to June every year.
This year they have to spend Tk 350 to Tk 450 against each pon, consisting of 80 pieces of betel nuts, including transportation, labour and storage charges.
But currently each pon of betel nut sells at Tk 300 to Tk 350, traders said, adding that they are counting loss of Tk 100 in each pon.
Last year traders and businessmen got profit up to Tk 150 to Tk 200 selling each pon of betel nut.
Badiar Rahman, a betelnut trader at Borobari Village in Lalmonirhat Sadar, said last year he had purchased and stored 1,000 pons of betel nuts and made a profit of Tk 150 from each pon by selling the item in the month of August-September.
This year he preserved 1,200 pon of betel nuts and sold the items at a lower price and incurred losses of Tk 100 in each pon.
He also said the local markets usually witness a number of buyers from southern part of the countries this time to buy huge quantities of betel nuts. Absence of sufficient buyers caused the downtrend market price of the produce, he mentioned.
A farmer cum trader Fazley Miah of Kurigram's Fulbari Upazila said last year he made a profit of Tk 10 lakh by storing and selling betel nuts worth Tk 50 lakh.
But this year he bought and stored betel nuts worth Tk 80 lakh and counted a loss of Tk 10 lakh, he said.
Another grower, Quader Miah of Nazimkhan Village in Kurigram's Rajarhat Upazila said he got Tk 5.5 lakh last year selling the product of 250 betel nut trees in his garden while he has to sell the same at quite low prices this year.
Raju Miah, a betel nut wholesaler at Lalbag Bazar of Rangpur City, said the price of betel nut has been maintaining very low since the beginning of the season due to huge supply in local markets this year.
According to Department of Agriculture Extension (DAE) Rangpur, there are around 60 lakh betel nut trees in five districts -- Rangpur, Lalmonirhat, Kurigram, Gaibandha and Nilphamari -- in Rangpur region. Moreover, there are about 16,000 betel nut orchards, each consisting of 250 to 1,500 betel nut trees in the region.
DAE Additional Director in Rangpur Obaidur Rhaman Mondol said, almost all the farmers have 20 to 50 betel nut trees surrounding their homestead in rural areas of the districts, while many of the farmers have been cultivating the product on a commercial basis due to profit concern.
Each of the trees produces 300 to 1,500 pieces of betel nuts and continues the process for 20 to 30 years or so. Betel nuts are often produced naturally. The farmers need not to spend additional amounts apart from applying organic fertilisers and water.
