Rice prices continue to drop in the Mekong Delta

Farmers in the Mekong Delta are a worried lot as rice prices continue to drop with demand for rice having dropped substantially, even though there was a bumper crop this winter-spring season.

Rice consumption is reported very sluggish. (Photo: Thuy Doan)

Rice farmers are concerned as price of low-quality IR50404 variety is now VND4,000-4,200 per kilogram for fresh paddy, and VND5,000-5,200 per kilogram for dried paddy. Price of dried paddy even fell to VND4,800-4,900 per kilogram in some places.

Meanwhile, long-grained rice sold for VND5,400-5,500 per kilogram and dried high-quality rice for VND6,300-6,400 per kilogram.

Rice consumption was reported very sluggish. Concerns increased as traders rejected low-quality IR50404 variety paddy. Farmers are worried that prices will continue to drop, even as they prepare for the next crop.

Nguyen Van Buong, Deputy Head of the Department of Agriculture and Rural Development in Hong Ngu District of Dong Thap Province, said that farmers in the district have already harvested more than 2,000 hectares of the 11,000 hectares of winter-spring crop, expected to yield about 7.4-7.5 tonnes per hectare, up 600 kilogram per hectare from the previous season. However, a decline in prices is a predicament for the farmers at this time.

According to Dr. Le Van Banh, Director of the Cuu Long Delta Rice Research Institute, farmers need to sell off their rice crop immediately, to pay off debts and prepare for the next season. Hence, at this point of time, the government must buy up farmers’ stocks, for temporary stockpiling, so as to assist them in cultivating the next crop.

By Binh Dai – Translated by Thuy Doan

Other news

Most view

A guava field in Can Tho (Photo: KK)

APEC 2017 Food Security Week opens in Can Tho

The APEC 2017 Food Security Week and High-Level Policy Dialogue on Enhancing Food Security and Sustainable Agriculture in Response to Climate Change will be held in the Mekong Delta city of Can Tho on August 18-25.



Rice export target set at 5.2 million tonnes in 2017

The Vietnam Food Association (VFA) aims to ship 2 million tonnes of rice to foreign countries in the last five months of the year, increasing total rice export for the whole year to 5.2 million tonnes, up 6 percent year-on-year.

Self - introduction

Stock market

VPBank prepares for listing on HOSE

The Ho Chi Minh City Stock Exchange (HOSE) said over 1.33 billion shares of Vietnam Prosperity Joint Stock Commercial Bank (VPBank) will officially be listed on the HOSE, code VPB, from August 17 with the reference price of VND 39,000 per share.