Agricultural product prices are racing to increase.

Coffee prices have been fluctuating these days. However, after a series of days of non-stop increases, the price of this "bitter" bean is at an all-time high, surpassing VND90,000/kg. On March 14, green coffee was traded at around VND90,200-91,100/kg, double the same period last year.

Mr. Tran Van Xuat - Director of Nam Ban Agricultural Cooperative (Lam Ha, Lam Dong) specializing in growing high-quality coffee - said that the coffee harvest has ended, and prices have continuously broken historical peaks. Although they had sold out before, farmers like him were excited because they had won big prices.

According to Mr. Xuat's calculations, 1 hectare of coffee yields about 3.8 tons of coffee beans. Farmers selling at 85,000 VND/kg will earn about 325 million VND. After deducting expenses, the profit is about 200 million VND/ha. If they can keep the coffee until now and sell it at over 90,000 VND/kg, they will make a big profit.

Meanwhile, pepper prices also set a new record when they jumped to 92,000-95,000 VND/kg, and many gardeners are even selling this "black gold" spice for 100,000 VND/kg.

“This pepper crop is both a bumper crop and a good price,” said Mr. Le Quang Cuong in Hung Phuoc (Bu Dop, Binh Phuoc), adding that his family’s pepper output doubled last year, from 2 tons to 4 tons. His family grows organic pepper, which is purchased by businesses at 105,000 VND/kg. At this price, Mr. Cuong earns about 420 million VND.

According to pepper growers, the price of this spice is the highest in the past 5 years. Therefore, farmers' income has also increased sharply. After deducting costs, a 1 hectare pepper plantation can earn a profit of over 350 million VND.

After a sharp decline, rice prices in our country have rebounded last week and are still at a high level. According to Ms. Bui Thi Thanh Tam, Chairwoman of the Board of Directors of the Northern Food Corporation (Vinafood 1), with the current price, rice farmers earn 60% profit.

This time, durian prices also set a new historical record when gardeners in the Southwest region sold Thai durian at 212,000 VND/kg. Currently, durian prices in our country fluctuate from 135,000-212,000 VND/kg.

Sharing with PV. VietNamNet , Mr. Tran Lam Sinh - Deputy Director of the Department of Agriculture and Rural Development of Dong Nai province - said that the price of durian from last year to this year has remained at a high level, so gardeners earn billions. In Dong Nai, there are gardeners growing up to 30 hectares of durian, earning profits of up to tens of billions of VND a year.

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Durian price sets new historical record when purchased at 212,000 VND/kg. Photo: Manh Khuong

In fact, since the end of 2022, durian prices have skyrocketed and reached a historic peak, helping tens of thousands of farmers hit it big, earning profits of 1-2.5 billion VND/ha depending on yield and harvest time.

Currently, the prices of many agricultural products in our country are increasing due to the good recovery of the export market. Some items such as pepper and coffee have even seen shocking price increases.

According to the Ministry of Agriculture and Rural Development, compared to the same period last year, the average price of rice in the first two months of this year reached 699 USD/ton, up 32.2%; coffee 3,153 USD/ton, up 44.7%; rubber 1,429 USD/ton, up 3.4%; pepper 4,041 USD/ton, up 28.7%; tea 1,699 USD/ton, up 1.7%...

Importers flock to Vietnam to find goods

According to the authorities and experts, in the coming time, the prices of many agricultural products will continue to increase, even pepper is predicted to return to its golden age, the price may jump to 300,000-350,000 VND/kg.

According to Mr. Le Hoang Tai, Deputy Director of the Department of Trade Promotion (Ministry of Industry and Trade), demand for pepper is forecast to increase and consumers are willing to pay high prices for high-quality pepper.

In particular, the US, EU, Middle East markets... have increased demand for importing products that meet sustainability requirements in terms of social and environmental aspects throughout the entire supply chain. Many importers seek out Vietnamese sources of goods, because Vietnamese pepper accounts for 40% of the world's output and 60% of the world's export market share.

Mr. Nguyen Nam Hai, Chairman of the Vietnam Coffee and Cocoa Association, informed that in the first two months of this year, Vietnam's total coffee export output was nearly 400,000 tons, with an export turnover of 1.25 billion USD, the highest compared to the same period in many years.

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Many agricultural products aim to achieve export turnover of 5-7 billion USD. Photo: Hoang Giam

Our country is also the world's largest Robusta coffee granary, so importers flock here to buy goods.

According to export enterprises, there is no shortage of export orders. However, enterprises do not dare to accept additional orders for the second quarter, because the supply of goods among the people is not much.

Mr. Nguyen Dinh Tung, General Director of Vina T&T Group, expects prices of many agricultural products to continue to increase in the first months of the year and balance out in the middle of the year.

Regarding durian, Vietnam will soon export more frozen products to China, so prices will increase further, and the market may enter a period of stability. In February and March, when countries like Thailand and Malaysia no longer have durian, Vietnamese goods will continue to be sold at high prices.

Ms. Nguyen Thi Hong Thu, Director of Chanh Thu Fruit Import-Export Company Limited, shared that this company exports several containers of mango and dragon fruit to the US every week. As for green-skinned grapefruit, the company transports 4-5 containers by sea every month.

With positive signals from the market, the fruit and vegetable industry has set an export target of 6.5-7 billion USD, rice and coffee are expected to reach 5 billion USD, and pepper is expected to regain its position as a billion-dollar agricultural product this year. If achieved, these will be new historical records for the agricultural sector.

China spends double the amount of money to buy Vietnamese agricultural products, some of which are super expensive . China continues to spend double the amount of money to buy many Vietnamese agricultural products in January this year. Thanks to that, some agricultural products have increased in price, becoming super expensive.