Farmers suffer huge losses as produce prices plunge

Farmers in the Mekong Delta, Vietnam’s agricultural production hub, are hurting as produce prices plunge by almost 80 percent in the wake of pandemic provoked distribution challenges.

Son Van Luan, 67, director of a cooperative in Vinh Long Province’s Binh Tan District said farmers were suffering huge losses because sweet potato prices have dropped steeply.

Before the Lunar New Year in February, Japanese purple sweet potatoes were bought and exported to China for VND1 million ($43.71) per 60 kg. However the price has dropped by about 85 percent to VND150,000-160,000 per 60 kg now.

At the current, it is impossible to cover the investment, said Luan, adding that potato growers have never had such a difficult time. Many have decided not to plant a new crop, considering the pandemic situation, he said.

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Cuu Long