Council highlights potential of betel nut trade

By DALE LUMA
THE Government must realise that the betel nut industry is huge and needs to be regulated and taxed, according to the Micro Small Medium Enterprise (MSME) Council.
Council president Desmond Yaninen said the industry could contribute K500 million into the government coffers through the Goods and Service Tax. Yaninen said yesterday that more than 40 per cent of informal sector activity involved betel nut trade and that must not be ignored.
He said there had been a warning that betel nuts could spread the Covid-19 but the Government must find ways to formalise its trade.
“When you look at the betel nut trade in Port Moresby alone, it’s worth K4 million a day,” he said. “In one year, K1.5 billion worth of betel nuts is traded in Port Moresby alone.
“That means thousands of peoples’ livelihoods depend on this crop.
“So while there are health concerns, there are also livelihood and economic concerns as well.
“The value of the informal sector is K12 billion a year.
“If it is K1.5 billion in Port Moresby alone, the betel nut trade in the country might be as high as K5 billion.
Steamships corporate affairs general manager David Toua recently said betel nuts were a health issue wrapped in an economic problem.
“We have to find a way to regulate the buai industry and keep it healthy for the grassroots people to survive,” Toua said.