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Phu Thien farmers suffered heavy losses due to the sharp decline in sweet potato prices of Vietnam Phu Thien farmers suffered heavy losses due to the sharp decline in sweet potato prices

Sweet Potato
Vegetables
Vietnam
Market & Price Trends
Published Apr 15, 2024

Tridge summary

In Phu Thien district, Gia Lai province, the sweet potato cultivation area has expanded to 3,500 hectares, nearly tripling in size and leading to market saturation. This oversupply has caused the selling price to drop to 3,000 VND/kg, resulting in significant financial losses for local farmers like Ms. Le Thi Xuan. The situation is further complicated by selective purchasing by traders and crop damage. In response, local authorities are taking steps to connect farmers with businesses and establish purchasing focal points to improve consumption opportunities and mitigate the impact on farmers.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In this case, Ms. Le Thi Xuan, Chu A Thai Commune, Phu Thien District, Gia Lai Province planted 2 hectares of sweet potatoes with an investment cost of nearly 200 million VND. Recently, the family unloaded potatoes and got about 40 tons of tubers, but the selling price was only 3,000 VND/kg, so they lost hundreds of millions of VND. Ms. Xuan believes that this difficulty is due to too many people racing to grow sweet potatoes. “The area planted with potatoes is too much, the consumption is not as good as usual, so the output is very slow. The price of potatoes this year is not as good as last year, it has dropped very sharply due to the large amount of potatoes. Traders choose beautiful potatoes to buy, but they pay very low prices for ugly potatoes," Ms. Xuan expressed. In the same situation as Ms. Le Thi Xuan, hundreds of other households in Phu Thien district, Gia Lai province are also suffering because the selling price of potatoes is too cheap. Some households even lost their ...
Source: Vov
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