The cost of Nam Roi grapefruit has taken a dive in recent days, leading many farmers in the Mekong Delta provinces of Vinh Long, Soc Trang, and Ben Tre to abandon their crops.
Bumper crops and low demand have led to a sharp drop in the price of Nam Roi grapefruit this year (Photo: Dat Mui Newspaper)
Nguyen Thanh Duoc, secretary of the My Hoa Commune Party committee in Binh Minh District, Vinh Long Province, said November 21 that a kilogram of the grapefruit recently dropped to VND2,000-3,000, just 50 percent of last year’s prices during the same period.
While prices have now moved slightly higher to VND3,200-3,500 a kilogram, farmers are still reporting losses.
This year, domestic demand for grapefruit was low while farmers saw bumper crops of the fruit. Exporting the product also met with difficulties, leading to an excess of grapefruit and the subsequent fall in prices, said Secretary Duoc.
Vinh Long Province People’s Committee has ordered the provincial Agriculture and Rural Development Department to help farmers enhance grapefruit quality, build brand names, and increase advertising to find export markets.