Prices of agricultural produce drop sharply

The Ministry of Agriculture and Rural Development’s statistics has shown a sharp decline in the prices of agricultural produce.

Rice export declines in September (Photo: SGGP)

The Agrotrade Vietnam and the Institute for Policy and Strategy for Agriculture and Rural Development under the Ministry announced prices of agricultural produce in September, in nine months and prediction for October.

In September, demand of rice for export was low while prices of coffee also declined because Brazilian farmers sold out all their coffee.

Prices of tra fish in the Mekong delta dipped because of oversupply whereas prices of shrimp went up because of small supply.

“Generally, the prices of several agricultural commodities have experienced a continuous decline in nine months of the year, said the Agrotrade. Specifically, prices of pepper slid down because of global oversupply while prices of pigs plunged due to African Swine Fever.

However, agriculture, seafood, forestry export is estimated to reach $3.5 billion in September bringing total turnover in nine months to $30.02 billion, a year-on-year increase of 2.7 percent.