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Friday, June 14, 2024

Farm produce prices rise

The Saigon Times

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HCMC – This year has seen the prices of key agricultural products rising, driven by factors such as the El Nino phenomenon, increasing global market demand, and supply disruptions.

At the closing session on February 17, raw coffee cost VND80,100 per kilogram, an increase of VND1,400 compared to the previous day. Exported rice has remained steady at US$640 per ton, matching the record set last year.

Meanwhile, durian prices have edged up by 20% over the end of 2023. Companies are now purchasing Monthong durians at VND200,000 per kilogram.

Forecasts indicate that prices of many agricultural products will continue rising until the middle of this year. Vietnam’s key commodities, including durian, coffee, and rice, are anticipated to perform well in the coming time.

According to a report from the Ministry of Agricultural and Rural Development, January saw prices of various items growing compared to late last year. Coffee inched up by 4-9%, rice over 6%, and mango by 8%.

The ministry aims for an overall growth rate of the agricultural industry of around 3.2% to 4% this year. Total export turnover of agricultural, forestry, and aquatic products is projected to range from US$54 billion to US$55 billion.

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