Rice price reduced VND400 per kilogram over the last week in provinces in the Mekong Delta including Vinh Long, Dong Thap and An Giang.
|Rice price falls in the Mekong Delta (Photo: SGGP)|
A kilogram of fresh rice is VND4,300 as of March 7.
Husked rice price also dropped from VND7,250 to only VND6,550 a kilogram in the past couple of days, said Huynh Phu Loc, a rice merchant in Lai Vung District, Dong Thap Province.
The price drop causes heavy loss to many traders, said Loc. This causes them to stop buying from farmers.
The spring peak harvest season in March and April will cause further price reductions and put more pressure on rice consumption, according to agriculture and rural development departments in Mekong Delta provinces.