Agriculture traders seek relief from glut-fuelled market

Fruit, vegetable and other commodity traders convened in the city of Lao Cai today (July 21) to seek measures to address the glut in inventories of farm produce.

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.