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With the recent sharp increase in rice prices, farmers in the Mekong Delta region are celebrating their successful harvest season. However, many businesses express caution in purchasing due to higher domestic rice prices compared to the export prices.

According to Tuoi Tre newspaper, the prices of winter-spring rice in the Mekong Delta are currently 500-1,500 VND/kg higher, with some types even exceeding 2,000 VND/kg compared to the same period last year. The high yields are also attributed to favorable weather conditions.

Meanwhile, experts note that global rice supply has decreased more than usual due to the impact of climate change.

Workers at My Thoi Port, Long Xuyen City, An Giang Province load rice onto export vessels.

Farmers Reap the Benefits of a Bountiful Harvest

Although the harvest for Mr. Nguyen Hoang Vinh's 10 hectares of Dai Thom 8 rice in Go Quao District, Kien Giang Province, is still 20 days away, he has already secured a deposit from traders at a rate of 6,700 VND/kg, significantly higher than previous years.

"Thanks to favorable weather and good rice development, I anticipate a yield of no less than 1 ton of fresh rice per hectare. I am very pleased," Mr. Vinh said.

Mr. Danh Quoc Cuong from Gio Rieng District, Kien Giang Province, is also excited as traders have come to inspect and place deposits for his family's OM5451 and Dai Thom 8 rice fields, even though they have just begun flowering.

Traders have placed deposits for OM5451 and Dai Thom 8 rice at prices ranging from 6,600 to 6,800 VND/kg of fresh rice, an increase of 400-800 VND/kg compared to the same period last year.

"With these rice prices, after deducting production costs, we can expect a profit of approximately 4 million VND per hectare. We also hope that rice prices will remain stable for future crops, ensuring a prosperous life for my family and fellow farmers," Mr. Cuong expressed.

Meanwhile, Mr. Nguyen Hong Phuong, Director of the Gỗ Lo Agriculture Cooperative in Long Thanh Commune, Gio Rieng District, stated that the cooperative has approximately 224 hectares, with farmers mainly cultivating varieties such as Dai Thom 8, ST24, RVT, and DS1 (a Japanese rice variety with round and sticky grains).

Of these, traders have agreed to purchase 85 hectares of DS1 rice from local farmers at a price of 8,800 VND/kg of fresh rice, an increase of 2,000 VND/kg compared to the same period last year. Dai Thom 8, ST24, and RVT rice are sold at prices ranging from 6,700 to 7,300 VND/kg, an increase of 400-800 VND/kg compared to the same period last year.

"Although the harvest is still a bit away, looking at the full and round grains on the rice plants, we estimate a yield of about 1.2 tons of fresh rice per hectare. With these attractive prices, all farmers are excited and happy," Mr. Phuong enthusiastically shared.

According to Mr. Le Quoc Dien, Deputy Director of the Department of Agriculture and Rural Development in Dong Thap Province, the province has successfully harvested 190,264 hectares of winter-spring rice for the 2022-2023 season, with an average yield of 7.2 tons per hectare and a total output of 1.38 million tons.

Prices for regular and high-quality rice have increased by 661-714 VND/kg, leading to a profit increase of 900,000 - 1.3 million VND/ha compared to the same period last year. Prices for glutinous rice have risen by 1,700 VND/kg, resulting in a profit increase of 3.5 million VND/ha.

"The price hike may be due to the increased demand for rice in Vietnam. Dong Thap is currently experimenting with a rice production model costing less than 10 million VND/ha. The goal is to help farmers save on production costs since the average production cost for rice is around 17 million VND/ha. If the model proves successful, we will focus on guiding farmers to adopt it," Mr. Dien stated.