Prices of agricultural products are racing to set historical records in 2023. Thanks to that, tens of thousands of durian farming households will become “billionaires” by earning billions of dollars. The income of rice and coffee growers in our country also doubled.
Growing durian won billions
In the last days of 2023, farmers in the West are still busy harvesting off-season durians to sell to export businesses to the Chinese market at sky-high prices. In particular, the purchase price of Ri6 durian is from 100,000-120,000 VND/kg; Monthong durian costs 135,000-160,000 VND/kg; Musang King durian keeps the price of 160,000-190,000 VND/kg.
Earlier this year, the price of Ri6 and Monthong durians set a historic record when traders bought them at the garden at 160,000-200,000 VND/kg.
According to the Ministry of Agriculture and Rural Development, the signing of the protocol to officially export fresh durian to the Chinese market in mid-2022 has helped orders explode, pushing durian prices to skyrocket and stay at a very high level throughout the year. 2023.
Statistics show that by November 2023, Vietnam’s durian exports will reach nearly 2.2 billion USD, an increase of 4.8 times over the same period last year. China is the largest customer with a turnover of nearly 2 billion USD, accounting for 91% of our country’s total export value of this fruit.
The Vietnam Fruit and Vegetable Association estimates that durian exports this year will reach about 2.3 billion USD – a historic record for a fruit and vegetable product. Durian growers also won unprecedentedly because of the good harvest and good prices.
According to Mr. Huynh Tan Loc, Director of Ngu Hiep Durian Cooperative (Tien Giang), the average durian yield is 20-25 tons/ha, with some gardeners even reaching 30 tons/ha. With high prices like this year, minus production costs of 200-300 million VND/ha, durian growers profit from 1-1.5 billion VND.
With a good harvest and a good price, in the durian capital of the Central Highlands, many people consider durian a “golden fruit”. Just planting 1 hectare of durian can earn billions of dollars.
Mr. Doan Nguyen Duc, Chairman of Hoang Anh Gia Lai Joint Stock Company, also boasted that the company’s durians grow fruits with “unbelievably” high profits when 1 dong of capital spent brings back 5 dong of profit. In 2023, the business’s 30ha of durian will produce its first off-season, with revenue reaching more than 23 billion VND.
Ms. Doan Thi Thu – Vice Chairman of the People’s Committee of Hoa Nam – Di Linh commune (Lam Dong), said that this year the commune’s durian output reached about 7,000 tons, bringing in over 500 billion VND. On average, each durian growing household has an income of 1.2-1.5 billion VND. In the commune, about a dozen households earn 4-10 billion VND from durian.
Recently, Deputy Director of the Department of Agriculture and Rural Development of Dak Lak province, Vu Duc Con, informed that the province’s durian output in 2023 will reach over 214,000 tons. With selling prices ranging from 55,000-75,000 VND/kg, revenue from durian reached a record number of nearly 15,000 billion VND.
The Central Highlands is the durian capital of our country. The average price of durian in this region is lower than in the southern region, but durian farmers also earn a profit of 0.8-1 billion VND/hectare.
An expert in the fruit and vegetable industry calculated that with an estimated output of nearly 1.2 million tons, durian prices in 2023 will be sky-high, helping tens of thousands of farmers growing this crop become billionaires.
The Ministry of Agriculture and Rural Development is negotiating with China to export more frozen durian products to this billion-people market. At that time, durian turnover will increase sharply, output and durian price will stabilize.
Prices are at record highs, coffee and rice growers make big profits
Along with durian, coffee growers also have a bumper year with good harvest and good prices. Currently, coffee prices in growing areas in our country have increased to 67,400-68,200 VND/kg.
Growing more than 6 hectares of coffee, the selling price is twice as high as last year, so Mr. Nguyen Van Tao in Dak Nong estimates the revenue is about 240 million VND/ha, profit is about 120-130 million VND/ha.
“Vietnam’s export history over the past 30 years and during the harvest season have never had coffee prices so high,” commented Mr. Nguyen Nam Hai, Chairman of the Vietnam Coffee and Cocoa Association. Thanks to that, coffee farmers in our country earn twice as much income as last year.
Vietnam’s coffee exports are “as expensive as hot cakes”. Mr. Phan Minh Thong, Chairman of the Board of Directors of Phuc Sinh Joint Stock Company, commented that domestic coffee has never been in such a situation of running out of goods to sell.
If in the past, Vietnamese coffee was not highly appreciated and was considered low quality so the selling price was low, now domestic coffee has become the top choice in the Robusta segment. In addition, Vietnam is almost the No. 1 supplier of Robusta coffee not only in terms of output but also in quality and supply capacity.
Currently, Phuc Sinh does not have enough people to receive delegations from many parts of the world to learn about and buy Vietnamese coffee, Mr. Thong shared.
Similarly, the scarcity of global supply pushed rice prices to historic peaks, and rice prices in our country also increased to an unprecedented high, reaching 9,000-9,500 VND/kg sold in the field.
Just finished the last rice harvest in 2023, Mr. Chung Van Lieu, Director of Hoa Binh Agricultural Service Cooperative (Dong Thap), announced that this rice crop has had a successful harvest. The entire OM18 rice output of 24 members was purchased by partners at a price of 9,500 VND/kg. In addition, the business also supports 500 VND/kg of rice when farmers comply with technical regulations.
On average, each hectare of rice farmers earn 35-40 million VND – a rare high level, Mr. Lieu shared.
Mr. Nguyen Duy Thuan – General Director of Loc Troi Group Joint Stock Company – said that rice prices are helping farmers have a stable income. Spending 1,000 USD to invest on 1 hectare of rice, this time the revenue is from 3,000-3,500 USD. That is, the farmer is making a profit of 2,000-2,500 USD.
Report from the Department of Crop Production, in the Northern provinces, people cultivate 2 rice crops/year. Due to high prices, farmers earn a profit of 37 million VND/ha/year.
Sharing about the income of rice growers, Minister of Agriculture and Rural Development Le Minh Hoan said “the rice path does not stop at the rice grain”. Integrating multiple values, we sell a whole package of rice products, which is the destination of Vietnamese rice.
Looking at rice grains differently, farmers’ income is also different. Not only rice, but also many types of Vietnamese agricultural products.
Export of rice and vegetables sets historic records. 2023 is a particularly difficult year for many key commodity groups of the agricultural industry. However, rice and fruit and vegetable exports surged, with turnover setting historical records of about 4.5 billion USD and 5.5 billion USD, respectively.
($1~24,000 VND)
Photo,Video: Internet (Vinlove.net)