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Farmers struggle with price hikes

by 5m Editor
5 November 2007, at 10:59am

VIET NAM - According to Vice Chairman of the National Assembly (NA) Committee for Economic Affairs Le Quoc Dung, the GDP growth in agriculture reached 2.6 percent. Meanwhile, the consumer price index (CPI) in October rose by 0.74 percent from the September level, bringing the index to 8.12 percent from December last year.

Price increases have badly affected the lives of poor people, particularly farmers.

CPI at a dizzying rate

Farmers from the Mekong River Delta and the Red River Delta shared the view that never before has rice reached such high as prices this year. Since early this year, rice price remained high at around VND3,000 per kg while food prices also went up at a dizzying rate.

Deputy Head of the Animal Husbandry Department under the Ministry of Agriculture and Rural Development Nguyen Thanh Son said the price of pork soared by 37-38 percent, chicken by 20-25 percent, beef by 20-25 percent from a year earlier. With that price level, pig breeders can make a profit of between VND400,000-VND500,000/pig compared to the previous level of VND100,000-200,000/ per head.

Farmers have benefited from the soaring prices of agricultural products and food. But in fact, their production costs such as fertilizer, seeds and agricultural materials have increased sharply.

In the face of this situation, farmers complained that even though rice prices are seen as a miracle, their lives are not much improved.

Source: VietnamNet

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5m Editor