Rice prices in Nghe An increased the most in the past 5 years

This year's summer-autumn crop in Nghe An is expected to yield a bumper crop. Photo: Xuan Hoang

Mr. Nguyen Van Ngu, a rice trader in Nam Thanh commune, Yen Thanh district (Nghe An) said that due to the demand for rice from large enterprises, the price of rice has increased to 8,000 VND/kg for old rice of the winter-spring crop, and the price of newly harvested rice of the summer-autumn crop is from 7,000 - 7,500 VND/kg (depending on the rice variety). This rice price is an increase of 500 - 700 VND/kg compared to before, the highest since 2016.

"Rice prices have started to increase since the summer-autumn rice harvest, many traders have purchased fresh rice for farmers in the fields" - Mr. Nguyen Van Ngu said.

On September 13, Mrs. Nguyen Thi Minh's family in Hamlet 6, Lien Thanh Commune, Yen Thanh District sold more than 1 ton of Song Huong rice to traders. Mrs. Minh said that this was rice harvested in the summer-autumn crop, the quality was not as good as spring rice, so it was sold at 7,800 VND/kg. With this price, farmers were more excited because they had more income.

According to traders, rice prices are increasing, so people are waiting for higher prices to sell, causing the amount of rice sold to the people to not be much.

Rice prices are increasing, Nghe An farmers are more excited. Photo: Xuan Hoang

Research on the rice market in Dien Chau, Quynh Luu, Do Luong districts... shows that prices have increased quite strongly.

Mr. Le The Hieu - Head of the Department of Agriculture and Rural Development of Dien Chau district said: Compared to the same period last year, the current price of rice has increased by 20 - 25%, currently good rice costs 8,000 VND/kg. Traders in the district buy rice, then transport it to the North for consumption.

According to Mr. Nguyen Van Duong - Vice Chairman of Yen Thanh District People's Committee, the district's annual rice output reaches 1.6 million tons, of which about 80 million tons are consumed by the people, the remaining 80 million tons are supplied to the market. The rising price of rice is an advantage for farmers to have more income and invest in production.

According to the Ministry of Agriculture and Rural Development, rice prices are currently increasing nationwide. The reason for the increase in rice prices is that the demand for rice reserves of importing countries has increased again. The reason is that the Covid-19 epidemic continues to develop complicatedly, while Thailand's rice output has decreased due to the impact of climate change./.