Today, the price of rice in many provinces in the Mekong Delta region has decreased by 200-300 VND/kg compared to two days ago. Specifically, Thơm rice variety is currently priced at 7,700 VND/kg, OM rice is priced at 7,600 VND/kg, and 5451 rice is priced at 8,500 VND/kg.
According to rice purchasing companies, the price drop is due to the increase in harvesting area, with off-season rice having high yields while the output is slow. Despite the decrease in rice prices at the current level, farmers still make high profits, but purchasing companies and traders face difficulties because they have placed advance deposits at higher prices.
Farmers in the Mekong Delta region harvesting the Winter-Spring rice crop
Mr. Nguyen Huu Tri, Director of Tu Tri Limited Company – a company specializing in purchasing and processing rice in Dong Hoa Hiep commune, Cai Be district, Tien Giang province, said: “The business owners face difficulties and losses. The reason is that we have placed advance deposits and the price has dropped on the other side. If we don’t buy the rice and take it back, we lose the deposit of 1-2 billion VND, similar to our partners. We take rice for processing but the quantity is not enough, and the bran price has dropped from over 1,000 VND/kg to 200 VND/kg. The storage bins are full and cannot be operated, so we have to sell the rice at any price.”
Traders come to farmers’ fields to purchase rice
The Winter-Spring rice crop in the Mekong Delta region was sown on over 1.5 million hectares, and more than 700,000 hectares have been harvested by this time. The off-season rice crop is successful, bringing good profits to farmers. The area at risk of damage due to saltwater intrusion is not significant.
The decrease in rice prices causes difficulties for businesses and traders, even leading to losses
Companies in Cai Be district, Tien Giang province, come to the Mekong Delta provinces to purchase rice for processing
