Rice price increase ensures farmers’ profit in Mekong Delta

The Mekong Delta is amid the harvest time of summer autumn rice whose prices have increased ensuring farmers’ profit.

Farmers enjoy bumper crop and good prices of summer autumn rice in the Mekong Delta (Photo: SGGP)

Trader Huynh Phu Loc from Lai Vung District, Dong Thap Province said that they paid VND5,000-5,100 per kilogram of fresh normal rice and VND5,200-5,300 a kilogram of fresh long grain rice. Fragrant rice price is as high as VND5,600-5,700. They are VND800-1,000 higher than the prices in June.

However, it is not easy for traders to purchase because farmers are waiting for further price increase, he says.

The summer autumn crop has yielded 6-6.5 tons per hectare, said farmer Vo Truong Chinh from Tam Nong District, Dong Thap Province. Bumper crop and good prices brings farmers VND15-20 million in profit per hectare.

The price increase is said to put several businesses in difficulties because they have already signed export contracts at low prices. They might suffer losses now.

The Vietnam Food Association has announced to hike FOB (Free on Board) price of export rice from July 28, when 25 percent broken rice will fetch US$410 per ton. It was US$375 on July 18.

By Huynh Loi – Translated by Hai Mien

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