In the wake of the Lunar New Year, Vietnam has witnessed a significant 30% decrease in the price of green grapefruit, now valued between VND14,000-16,000 ($0.57-$0.65) per kilogram. Dong Nai's farmer Truong, with a decade of experience and 45 tons of the fruit ready for the market, has encountered limited interest from buyers. This downturn is a stark comparison to the VND50,000 price point in 2020, demonstrating a rapid depreciation to the current VND16,000. Similarly, in Ben Tre Province, Thanh's potential sale at VND13,000 underscores the financial strain on producers, falling 13% below production costs.
Market analysts, including Dong Nai trader Thu Hien, attribute this slump to reduced Chinese import demand coupled with tepid domestic consumption. Vina T&T's CEO, Nguyen Ding Tung, pointed out the imbalance between the heightened supply and demand as a contributing factor to the falling prices. However, there's an optimistic outlook for March with anticipated demand surges. Despite the approval for U.S. export, Vietnamese exporters face fierce competition from China and Thailand in the green grapefruit segment. With over 105,400 hectares dedicated to various grapefruit cultivars, Vietnam's annual production nears one million tons, highlighting the scale and potential impact of these market shifts.
[ VND100 = 0.004 ]
Source: e.vnexpress.net