Vietnamese Orange Prices Plummeted to Record Low Due to Market Flooding and Reduced Demand During W49
Market & Price Trends
Published Dec 6, 2023
During W49, the orange prices from gardens in Dong Nai and the West in Vietnam have sharply declined, plummeting to USD 0.2 per kilogram (kg), a significant 50% decrease from the lowest point observed in Jun-23. Despite this price drop, traders lack interest in purchasing oranges from these regions.
Market surveys conducted in traditional Ho Chi Minh City and online platforms highlight that domestic orange prices have hit a record low, with retail prices ranging between USD 0.3 to 0.4/kg. The key contributing factor to this decline is the sluggish rate of consumption in the markets, coupled with a surplus in the supply chain, resulting in what is commonly known as "market flooding."
After facing financial losses, growers are currently experiencing a lack of motivation to tend to their orchards, leading to less aesthetically pleasing fruit production and a substantial price decline. The convergence of oversupply and diminished demand has created a challenging scenario for orange growers.