Agriculture traders seek relief from glut-fuelled market

Crop prices have continued to slide throughout the first half of the year, Nguyen Duy Nhuong, director of the Son La Province Department of Industry and Trade told the 30 or so business representatives in attendance.

As a result, it’s been harder for both farmers and traders to profit from lower price volatility, he noted, adding that he didn’t see any momentous changes occurring over the near term.

We have seen supplies increase and at the end of the day, demand needs to increase to catch up with supply.

The ag products hardest hit in the province are longan, mango, dragon fruit, avocado, coffee, herbs, cassava and sugar.

The only hope for better trading conditions over the near term, Mr Nhung concluded, is the opening of more avenues to key markets in the Chinese economy, that would help tighten supplies and boost prices upwards.