Billionaires on the salt fields of Bac Lieu

They make billions in profit every year.

If you go to the famous Vinh Thinh salt fields and ask about Mr. Phan Van Phuc (70 years old, residing in Vinh Tien hamlet, Vinh Thinh commune, Hoa Binh district, Bac Lieu province), almost everyone knows him, because he has been involved in salt production for nearly 40 years.

Workers harvesting salt for Mr. Phan Van Phuc's family.

Mr. Phuc recounted that after many years serving in the army, in 1979, he was discharged and returned to his hometown to start a family, beginning his career in salt production, a family tradition passed down through generations. Previously, the Vinh Thinh salt fields were barren, saline land overgrown with mangrove trees, toadstools, and tall grass reaching up to a buffalo's belly.

Given a few acres of land by their parents, Mr. Phuc and his wife cleared the land, leveled the ground, and built embankments around it to produce salt. Lacking machinery, all the work was done manually. In the early years, the embankments weren't sturdy, and the saltwater stored in the salt fields gradually drained through the holes, resulting in very low salt yields. However, thanks to their diligence and hard work, Mr. Phuc learned from experience and wasn't afraid to invest, so gradually, each salt harvest became quite profitable.

Salt billionaire Phan Van Phuc

With the profits, Mr. Phuc accumulated funds to buy more land, expanding his production area year after year. By 2000, he owned over 40 hectares of salt production land, harvesting over 75,000 bushels of salt (30 kg/bushel) annually. Mr. Phuc is considered to have the largest salt production area in the region. "In decades of salt production, I've never suffered a loss. Every salt harvest, my family makes a profit of 1-2 billion VND, and in some years, the profit increases many times over," Mr. Phuc happily shared.

Salt harvesting workers

Thanks to salt production, Mr. Phuc's family became the wealthiest in the region. Mr. Phuc shared that with the money saved from selling tens of thousands of sacks of salt, his family built six spacious villas and multi-story houses on the Vinh Thinh salt fields. In addition, he also built a large-scale hotel in the center of Bac Lieu City.

Only committed to the salt industry.

According to Mr. Phuc's experience, salt production has a recurring paradox: in years with abundant sunshine, the salt harvest is bountiful, but prices plummet. Conversely, in seasons affected by unseasonal rains, when salt yields are low, prices rise sharply. Therefore, the income of salt producers is always precarious.

Mr. Phan Van Phuc's salt storage facility

In particular, for salt farmers in difficult circumstances who lack capital and have to "sell unripe salt," they only have enough to eat and wear. They don't have money to improve the land, hire workers, or pump saltwater into the salt fields... so most have to borrow money in advance from traders. When it's time to harvest the salt, they are forced to accept lower prices from traders, with the purchase price dropping by about 40% compared to the market price. If the market price is 10,000 VND/sack, traders only buy it for 6,000 VND/sack. Therefore, many people cannot stay in the salt-making profession and gradually have to convert their salt-producing land to shrimp farming.

An aerial view of Mr. Phan Van Phuc's salt production area.

Mr. Phan Van Phuc's salt production area

Speaking about his experience in producing highly profitable salt, Mr. Phuc said that if salt is sold immediately after harvesting, the price is usually not high, especially in years with a bumper crop and large production. Therefore, he doesn't sell directly to traders but proactively builds many warehouses to store it. The salt is stored until the price increases and it becomes profitable before he sells it. According to Mr. Phuc, the price of salt usually increases sharply once every 3 or 5 years. The price usually fluctuates from 10,000 to 15,000 VND per sack, but he has had many successful harvests, selling at 70,000 to 100,000 VND per sack, earning billions of VND in profit each season.

Mr. Phan Van Phuc's salt production area covered with tarpaulin.

Mr. Phuc shared that his children have now started their own families and moved out, so he gave them more than 50% of his land for salt production. Mr. Phuc currently owns over 20 hectares of land for salt production and three storage facilities with a capacity of over 10,000 bushels per facility. In addition, he has allocated 2 hectares for the production of white salt using tarpaulins. After the salt harvest, he raises shrimp, crabs, and fish in the ponds to provide income for his workers.

Salt production is one of the traditional occupations with a history of over 100 years in Bac Lieu. Salt fields once stretched for tens of kilometers, and Bac Lieu salt, famous throughout the six southern provinces of Vietnam, was considered the "salt capital." To produce salt, salt farmers poured in countless drops of sweat and tears. In 2020, the salt-making profession in Bac Lieu was recognized by the Ministry of Culture, Sports and Tourism as a national intangible cultural heritage.

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