Farmers in the Mekong Delta province of Kien Giang have enjoyedtheir most productive rice crop ever, with 2.2 million tonnes harvestedso far this year across 305,856 hectares.
However, the mood is not overly optimistic, as the low current price of rice means lower profits.
The local rice price in recent days has tended to decrease, varying from 4,400 VND-5,700 VND depending on the quality.
Many farmers have chosen not to sell their rice immediately in thehope for the value rising soon, despite loan deadlines looming.
Since early this year, Kien Giang has experienced a 50 percentdecrease in its rice exports against the same period last year,contributing to the plummeting value.
Many localenterprises could not sign export contracts, while many deals betweenfarmers and distributors have been broken.
In aneffort to seek a solution, the provincial Department of Industry andTrade has directed local enterprises to speed up the purchase of ricefor farmers, while working harder to find new markets and partners forrice businesses.-VNA
However, the mood is not overly optimistic, as the low current price of rice means lower profits.
The local rice price in recent days has tended to decrease, varying from 4,400 VND-5,700 VND depending on the quality.
Many farmers have chosen not to sell their rice immediately in thehope for the value rising soon, despite loan deadlines looming.
Since early this year, Kien Giang has experienced a 50 percentdecrease in its rice exports against the same period last year,contributing to the plummeting value.
Many localenterprises could not sign export contracts, while many deals betweenfarmers and distributors have been broken.
In aneffort to seek a solution, the provincial Department of Industry andTrade has directed local enterprises to speed up the purchase of ricefor farmers, while working harder to find new markets and partners forrice businesses.-VNA
