The Ministry of Agriculture and Rural Development’s (MARD) report on the National Assembly’s Resolution 62/2022 showed that in the first quarter of 2023, the farm produce supply was plentiful thanks to good weather conditions.

Most farm produce has seen prices stabilize or decrease. Rice prices in provinces have decreased by VND 300-400 per kilogram as the harvest is in full swing. 

Coffee prices in the world and domestic markets have decreased by VND100 per kilogram because of higher reported inventory levels, while major producers are entering the new harvest season.

The downward trend continues in the tea market because of weak demand and high output. 

Pepper prices have decreased because of abundant supply (by VND10,000-80,000 per kilogram). 

Live pig prices have also decreased because of plentiful supply and low demand (down by VND1,000-3,000 per kilogram). 

While the finished product prices are on the decrease, input material prices have kept rising. Only a few input materials for agricultural production, such as fertilizer, have seen prices decrease (by VND1,600-2,600 per kilogram), but prices still are high.

In the first quarter of 2023, Vietnam spent $1.89 billion to import 4.56 million tons of materials for animal feed production, up 23.4 percent in quantity and 26.5 percent in value compared with the same period in 2022. 

Some major imports included maize (2.1 million tons, worth $700 million), and wheat (266,000 tons, $94 million).

In general, the prices of some materials for animal feed increased in the first quarter of 2023 over the same period last year. 

Rice bran, for example, increased by 13.9 percent and DDGS (distiller's dried grains, soluble) rose by 3.4 percent, while the maize price decreased by 2.2 percent.

The higher input cost and lower farm produce prices both have caused losses to farmers. The director of a farm with 1.2 million fowls told VietNamNet that animal feed prices have increased by 50 percent since late 2020, while chicken egg prices have been decreasing steadily since then. 

According to the Vietnam Poultry Association (VIPA), fowl farmers are incurring the loss of VND6,000-8,000 per kilogram for white-feather chicken farming.

Pig farmers have also complained about loss. The live pig price dropped to below VND50,000 per kilogram in the first quarter of 2023. Some farms have reported the loss of VND2-3 billion a month, while some households have suspended farming.

Tam An