Rice prices drop sharply, farmers "restless" in the peak of the crop season

In the midst of the peak summer-autumn harvest season, many fields in Ha Tinh are bustling with the sound of harvesters and people rushing to bring their rice home. However, the harvest atmosphere does not bring complete joy as the price of fresh rice is falling sharply, putting farmers at risk of losses.

Mr. Nguyen Van Huong in Hung Loc village, Thien Cam commune is sad because the price of summer-autumn rice has dropped.

According to a survey by PV, the price of fresh rice purchased by traders fluctuates from 4,300 to 4,700 VND/kg depending on quality, about 1,500 VND/kg lower than the same period last year. After deducting production costs such as fertilizer, pesticides, labor, etc., many households have almost no profit, even suffer heavy losses.

Mr. Nguyen Van Huong in Hung Loc village, Thien Cam commune shared: "This crop, my family produced nearly two hectares of rice, but the results were not as expected. The rice crop failed due to pests and diseases, and when it was time to harvest, the price was low. There was a trip when I transported rice to sell, but the merchants said it was bad and didn't buy it, so I had to bring it home to dry and store in the warehouse."

Thuy Ngoc rice facility (Thien Cam commune) buys rice for people.

Not only farmers are suffering, traders are also "holding their breath" to buy fresh rice in moderation for fear of stockpiling and losing money. Like every year, Thuy Ngoc rice facility (Cam Xuyen commune) will buy 700 - 800 tons per crop, but up to now, the purchased output has only reached about 100 tons.

Ms. Tran Thi Thuy, owner of Thuy Ngoc rice facility, said: “Rice that does not meet standards will be returned or have its price forced down by the Northern dealers. We feel sorry for the farmers, but we have to refuse to buy. This year, the farmers have had a bad harvest and low prices. We are the ones who purchase all their products, so we are also affected. The debt for all kinds of fertilizers that we have advanced will be difficult to recover because the farmers are suffering losses.”

Rice prices fell sharply due to difficulties in the rice export market to the Philippines.

According to rice traders in Ha Tinh, the sharp decline in the price of fresh rice in the summer-autumn crop this year is due to many reasons. The main reason is that Vietnam's rice export market is currently facing difficulties. Since September 1, the Philippine government has temporarily suspended rice imports for 60 days to protect the domestic production industry, causing Vietnam's rice export market to almost freeze. When international consumption decreased, domestic enterprises did not dare to buy in bulk, leading to the consequence that traders also "held their breath" and bought sparingly. On the other hand, this year's summer-autumn rice crop was affected by pests and diseases, resulting in a crop failure, and the quality of rice grains was much worse than in previous years, affecting consumption.

This summer-autumn crop, Hanh Cuong Agricultural Products Processing Service and Trading Cooperative purchased more than 2,000 tons of rice for farmers.

Ms. Nguyen Thi Hanh - Director of Hanh Cuong Agricultural Processing Service Trading Cooperative (Cam Binh commune) said: "Due to the impact of the export market, businesses in the North purchase rice in limited quantities and with very strict standards. Many trucks are returned because the rice does not meet quality standards or is forced to lower prices. Despite the difficulties, we still purchase fresh Khang Dan and Xuan Mai rice at prices ranging from 4,300 - 4,700 VND/kg for grade 1 rice. Up to this point, the purchasing cooperative has achieved an output of over 2,000 tons, down 20% compared to the same period last year."

Traders in Thien Cam commune buy fresh rice for farmers.

Faced with the sharp drop in rice prices, farmers in many localities in Ha Tinh are choosing to dry and store them, waiting for prices to increase before selling. “This year’s rice price is too low, only 4,500 VND/kg, even bad rice is less than 4,000 VND/kg. At that price, it is not enough to cover the costs of fertilizer, pesticides, harvesters... Working hard all season, but selling now will only result in losses, so I am drying and storing. If the price goes up, I will sell it, if the price is still low, I will use it,” said Ms. Phan Thi Nhung in Dong Loc commune.

The fields are in harvest season but rice prices have dropped sharply.

With low rice prices, unstable output, and high costs, Ha Tinh farmers are in dire need of timely solutions from the authorities. More than ever, stabilizing the domestic market, boosting exports, and supporting consumption are essential to maintain agricultural production and local food security.

Source: https://baohatinh.vn/gia-lua-giam-manh-nong-dan-dung-ngoi-khong-yen-giua-cao-diem-mua-vu-post295126.html