14:06 | 06/05/2016 Economy- Society
Farmers in the central province of Quang Ngai have been happy to see chili prices soaring over the past few days.
Farmers harvest chili pepper in central Quang Ngai province - (Source: baocongthuong.com.vn)
The chili season often lasts from March to June. At the beginning of the chili season this year, prices were about 4,000-5,000 VND (0.17-0.22 USD) per kilogramme. Prices have increased gradually to the current cost of 40,000 VND (1.7 USD) per kilogramme.
According to a Quang Ngai newspaper report, in many chili fields in Tinh Long commune, Quang Ngai city, farmers eagerly went to the fields to harvest chili despite the extremely hot weather.
Tran Thi Thuy, a farmer in the commune’s Tang Long village, said she has grown chili for the past 30 years, and the current price is the highest she has seen so far.
Thuy invested 3 million VND into her chili field to buy fertiliser and seeds, and she expected to earn profits of about 20-30 million VND (800-1,300 USD).
Tran Ngoc Minh, another farmer in the commune’s Ngoc Thach village, said the peppers require a lot of water to grow.
The weather was severe this year, so the productivity level was only half of what it was last year. However, prices increased so Minh did not suffer any losses.
Minh is pleased with the current prices, but is also worried because the prices could drop suddenly.
Pham Thi Thu Thuy, owner of a chili dealer in Quang Ngai city, told the newspaper that prices could change daily depending on dealers along the northern border gates.
The prices increase or decrease depending on the Chinese market, and recently the Chinese market has had a high demand for chili, thus driving up prices, she said.
Every day, Thuy buys about 10-15 tonnes of chili peppers from farmers in the province. In recent days, three or four containers wait near her dealership to take chili peppers to China.
She added that the price of 40,000 VND (1.7 USD) per kilogramme is only temporary, so farmers should take advantage of the current benefits./.