Vegetable prices fall dramatically, Vinh wholesale market traders have to 'dump' goods to cut losses

Vinh wholesale marketis one of the largest vegetable transit points in the region. Currently, the price of vegetables has fallen, causing vegetable and fruit businesses to be restless because of capital losses.

Every night, hundreds of tons of vegetables are imported to the wholesale market, then sold wholesale to traders who bring them to other markets. Photo: TD

Starting at 10pm, trucks carrying vegetables from the northern provinces and some localities in the province flocked to the wholesale market. Among them, tubers and fruits such as carrots, white radishes, tomatoes... were mainly transported from the northern provinces such as Nam Dinh, Ha Nam, Hanoi...

Stillgreen vegetablesMost of them are transported by traders from Nam Dan, Dien Chau, Quynh Luu districts...

At this time, due to favorable weather for production, a large amount of vegetables are coming in, making vegetable prices cheap. Photo: TD

The favorable weather and large quantities of imported vegetables have caused vegetable prices to drop very low. In many places, people have had to uproot their green vegetables because they cannot sell them. As for the trucks of vegetables brought to the wholesale market for sale, prices are unstable. Many small traders transport 6-7 ton trucks of vegetables to the market, but there are few buyers, forcing them to sell cheaply to cut losses.

According to research, the price of green vegetables if sold at 10pm is 2,000 VND/kg, by 4am, the remaining vegetables can only be sold for 1,000 VND/kg. Because they have to clear their stock to prepare for the next market, many people have to grit their teeth and sell off.

After vegetables are gathered at the wholesale market, whether expensive or cheap, small traders must quickly sell their goods to return and prepare for the next market session. Photo: TD

"There were times when I went to import vegetables and paid farmers 3,000 VND/kg, but when I brought them to the market, they only paid 2,000 VND/kg. I knew it was a loss, but I had to sell because the later it got, the lower the price," Mr. Tuan sighed.

Due to the lack of customers, many people just lie under blankets on folding chairs watching their phones. Photo: TD

One of the reasons for the low vegetable prices is that the weather is currently favorable, and vegetables are growing strongly. Not to mention that in many places, due to the impact of the Covid-19 pandemic, shops and service areas are closed, so there is no place to consume vegetables.

The sluggish vegetable business has affected many workers at the wholesale market, including those who work as rickshaw drivers. Mr. Nguyen Thuc Hanh (Vinh Tan Ward, Vinh City) said: Previously, when vegetable prices were high, traders paid higher transportation fees, earning 300,000 VND per night, but now they only earn about 150,000 VND per night, or even less.

Low vegetable prices combined with the impact of the epidemic have affected many workers in the wholesale market area. Photo: TD

Ms. Nguyen Thi Lieu in Quang Trach commune, Quang Binh province said: Every day, she and her husband drive a truck to Vinh wholesale market to buy goods. Each trip, she imports about 6 tons of vegetables and tubers. Because many shops are currently closed due to lack of customers, there is no purchasing power, while consumption among the people is also not possible because most people are self-sufficient in green vegetables. There are trips where the profit from selling vegetables is just enough to cover the cost of gas.

There are currently 300 stalls specializing in vegetables and tubers at the wholesale market. Every day, about 30 trucks come to unload their goods, with about 200 tons of vegetables and tubers. Previously, every night was bustling with buyers and sellers, especially restaurant and hotel staff coming to choose vegetables for processing, but in recent months, due to the epidemic, vegetable prices have decreased and the number of customers visiting the market has also been completely absent.

Mr. Pham Hong Son - in charge of managing Vinh wholesale market area.