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High demand, low supply cause of high agriculture product prices
An unsatisfied demand for some agriculture foodstuffs was the main reason for increased prices, said Minister of Agriculture and Rural Development Cao Duc Phat yesterday
He told a meeting to discuss methods of stabilising agriculture foodstuff prices that domestic demand had reached a peak while the supply was still low.
Meanwhile, imports of many agriculture foodstuffs had reduced.
Explaining the reason for pork prices to double, deputy head of the Livestock Breeding Department Nguyen Xuan Duong said the input prices, such as feed and vet bills, had climbed.
Meanwhile, he said, bank interest rates were high so that no farm dared to borrow to feed their pigs, leading to the short supply.
As for vegetable, participants at the meeting agreed that bad weather conditions had a strong impact on prices.
Head of the Planting Department Pham Dong Quang said that storms last month reduced the vegetable yield.
The volume of fruit and vegetables imported from China had dropped by 10 per cent.
vietnamnews
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