In the Mekong Delta, the farm gate price for a kilogram of oranges has plummeted to a record low of VND2,000-4,000 ($0.087-0.17), inflicting significant financial losses on local farmers. A farmer from Vinh Long Province, Hanh, reported a drastic drop in prices from VND15,000-20,000 to as low as VND1,000 ($0.043), far below his production costs. Despite an investment of VND100 million ($4,300) in his 1,000-m2 orchard, the return has been minimal.
Ngoc Quy, a local merchant, observed that the demand for oranges has halved compared to the previous year, despite the low prices. The expansion of orange cultivation areas by farmers has contributed to a supply-demand imbalance. Additionally, the usual high demand from Northern Vietnam has diminished this year due to storm impacts. The provinces of Vinh Long, Hau Giang, and Tien Giang have expanded their orange cultivation to over 17,000 ha, 9,000 ha, and 5,000 ha respectively, exacerbating the situation.
Source: VNExpress