• Rice prices plummet, leaving farmers in a state of anxiety.
  • Guide businesses in seeking and expanding into new markets to stabilize rice prices and support farmers.
  • Support farmers in drying and storing rice while waiting for prices to recover.

In stark contrast to the hustle and bustle of previous seasons, when traders eagerly placed deposits early, the trading atmosphere in Vinh Thanh commune this winter-spring season is subdued. According to local farmers, rice prices are plummeting daily. In particular, OM18 rice is currently only 6,000-6,400 VND/kg, a sharp decrease of 2-3,000 VND/kg compared to last winter-spring season.

In about 20 days, the rice fields in Vinh Thanh commune will enter the main harvest season.

Mr. Bui Thanh Binh, a resident of Vinh Thanh commune, confided: "Normally, around this time each year, traders would come to the fields to finalize prices and place deposits. However, this year, I called traders everywhere but only received the answer that they needed to see how the rice prices would develop. With the current sharp drop in prices, while the costs of fertilizer, pesticides, and labor have all increased, farmers are certain to suffer losses; all their hard work, enduring rain and sun, will be wasted."

Mr. Bui Thanh Binh, from Vinh Thanh commune, is worried about the risk of losing all his profits due to the sharp drop in rice prices while production costs have increased significantly.

The worries aren't limited to individual households; even cooperatives are feeling uneasy. As the main entity responsible for purchasing approximately 300-400 tons of rice per season, Hong Phat Cooperative has been working hard to reconnect with old buyers and find new partners, hoping to secure a stable price before the rice ripens.

Sharing the difficulties in finding a market for rice, Mr. Nguyen Hong Phuc, Chairman of the Board and Director of Hong Phat Cooperative in Vinh Thanh commune, said: "The current situation is extremely difficult. We are urgently contacting, and even searching for, new purchasing units to ensure an outlet for our members. However, due to the unpredictable fluctuations of the market, purchasing businesses are very cautious. The biggest goal of the cooperative right now is to secure a price as soon as possible, helping farmers alleviate their worries and earn some profit for reinvestment in the next crop."

Mr. Nguyen Hong Phuc, Chairman of the Board of Directors and Director of Hong Phat Cooperative in Vinh Thanh commune, said: The cooperative is making efforts to find markets for its rice.

Faced with the reality of plummeting rice prices just before harvest, the People's Committee of Vinh Thanh commune proactively assessed the situation and implemented support measures for the people. Mr. Pham Thanh Hai, Vice Chairman of the People's Committee of Vinh Thanh commune, emphasized: "We are reviewing the entire area of ​​rice about to be harvested and the expected yield of the farmers. Currently, the commune is actively acting as a bridge, inviting businesses, food companies, and large traders from outside the locality to come and purchase the rice to avoid price manipulation. At the same time, the commune is also encouraging cooperatives to promote their role in linking the value chain, supporting farmers in finding long-term guaranteed purchase contracts to stabilize output and help farmers feel secure in production in the coming seasons."

The sharp drop in rice prices is posing a difficult economic challenge. Farmers in Vinh Thanh are still striving every day to find a way forward for their rice crop. They hope that rice prices will improve in the coming days to alleviate their anxieties after a hard-fought harvest.

Hong Nghi - Minh Luan

Source: https://baocamau.vn/rao-riet-tim-dau-ra-cho-lua-dong-xuan-a127461.html