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Rice farmers fret over lower prices, rising costs
An increase in fertilizer and insecticide prices along with a slight fall in rice prices is causing worry about the winter-spring crop in the Mekong Delta region.
Farmers and merchants in the area told Tuoi Tre that there was a slight drop in rice prices, by VND30-50 per kilogram since last weekend and VND200 since earlier this month.
Meanwhile, agrochemicals are becoming more expensive, Luu Van Chieu, a farmer in the region’s largest rice-producing province of An Giang, said.
Urea and diamino phosphate, two fertilizers widely used by farmers there, respectively went up by half to VND9,000 per kilogram and by VND200,000 ($10) per bag to VND700,000, he said, adding insecticide prices are also a cause for concern after rising by 10 percent.
Farmers will not make a profit unless they can get a high price next crop, he added.
However, the government is very hopeful of achieving the export target of 6.5 million tons this year thanks to the rising global demand.
Contracts have been signed to export 7 million tons while exports have already topped 6.2 million tons, according to the Vietnam Food Association.
Vietnam is the second-largest rice exporter in the world behind Thailand.
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