Traders in the Mekong Delta proposed to buy the vegetable at VND650,000 – 700,000 per quintal (US$30.69-32.98 per quintal) much higher prices fixed in the beginning of the year. Farmer Nguyen Thanh Tung in Vinh Long Province said that flood season in the Mekong Delta caused onion crop loss, hence prices of onion therefore hiked.
Some places are submerged; consequently, farmers cannot plant the vegetable, leading to supply is lower than demand, he added.
With the price of onion increasing over the past few days, a farmer earns net profit of VND15million (US$707) a 1,000 meter square. Farmers earn much profit from planting onion than other vegetable.
Meanwhile price of sweet potatoes in provinces Vinh Long, Dong Thap, Can Tho dropped dramatically. It fell to VND320,000-340,000 per quintal.
Farmers in Vinh Long said that it was due to Chinese market shrink. In other side, farmers have seen a crop failure and low sweet potato quality leading to the falling in price. They suffered losses around VND50 million (US$ 1,889) per hectare as selling prices have dropped to throwaway rates.
