Orange prices plummet to record low

Hanh, a farmer in Vinh Long Province, said from VND15,000-20,000 prices have been dropping steadily for the past few years. This year it even went down to VND1,000, resulting in severe losses for him.

He had invested VND100 million in his 1,000-m2 orange orchard, he said.

Ngoc Quy, a merchant in Vinh Long, said demand for oranges is only about half of last year's despite the low prices.

Meanwhile, farmers have been expanding their growing area, leading to a supply-demand imbalance, she said.

Northern Vietnam used to have a high demand for oranges, but this year storms have reduced it, she added.

Vinh Long has over 17,000 ha under orange, Hau Giang has 9,000 ha and Tien Giang has 5,000 ha.