The prices of farm produce climbed to new high in 2023. Tens of thousands of durian farmers have become dong billionaires, while the incomes of rice and coffee farmers increased by twofold.

Mekong Delta’s farmers were busy on the last days of 2023 picking durian to sell to merchants. 

Ri6 durians were collected at VND100,000 per kilogram, Monthong durians VND135,000-160,000 and Musang King VND160,000-190,000 per kilogram. The durian were to be shipped to China, a big durian consumer. 

According to the Ministry of Agriculture and Rural Development (MARD), the signing of the protocol on exporting fresh durian through official channels to China in mid-2022 led to a boom of orders from China, pushing durian prices up and standing at high prices throughout the year. 

As of November 2023, Vietnam’s durian export turnover had reached $2.2 billion, an increase of 4.8 times over the same period last year. China was the biggest consumer, which imported $2 billion worth of products, accounting for 91 percent of Vietnam’s durian exports. 

The Vietnam Fruit and Vegetables Association estimated that durian exports may bring turnover of $2.2 billion in 2023, a record high for vegetable and fruit products. 

Huynh Tan Loc, director of Ngu Hiep Durian Cooperative in Tien Giang, said the average durian yield was 20-25 tons per hectare. With such high prices, durian farmers could pocket profit of VND1-1.5 billion per hectare after deducting expenses, about VND200-300 million. In the Central Highlands, which is called the ‘durian metropolis’, one hectare of durian alone could bring the turnover of billions of dong. 

Doan Nguyen Duc, chair of Hoang Anh Gia Lai JSC, said his company could make an ‘unbelievably high profit’ from durian farming: one dong of investment can bring profit of five dong. Hoang Anh Gia Lai harvested the first crop of durian in 2023 and its 30 hectares of durian farming area brought turnover of VND23 billion. 

Doan Thi Thu, deputy chair of Hoa Nam commune, Di Linh district in Lam Dong province, said the total durian output of the commune was 7,000 tons in 2023, which brought turnover of VND500 billion. Each durian farming household in the commune had income of VND1.2-1.5 billion, while about 10 households earned VND4-10 billion from durian. 

Meanwhile, deputy director of the Dak Lak provincial Department of Agriculture and Rural Development Vu Duc Con reported that the output of the province was 214,000 tons, and with selling prices hovering around VND55,000-75,000 per kilogram, the revenue from durian made a record high of VND15 trillion. 

In the Central Highlands, the durian production center of Vietnam, the average prices were lower than in the south, but farmers still could make a profit of VND0.8-1 billion per hectare. 

An expert estimated that with the durian output of 1.2 million tons and sky high prices, tens of thousands of farming households have become billionaires. MARD is conducting negotiations with China on exporting frozen durian to the billion-consumer market. 

Rice, coffee growers earn big money Coffee growers also had a prosperous crop in 2023 thanks to high prices. 

At present, coffee is selling at VND67,400-68,200 per kilogram in growing areas. Nguyen Van Tao, a farmer in Dak Nong who has six hectares of coffee growing area, said as the selling price in 2023 was twice as high as the year before, the turnover was estimated at VND240 million, and the profit was VND120-130 million per hectare.

“The coffee export price has never before seen such a high level over the last 30 years,” said Nguyen Nam Hai, chair of the Vietnam Coffee and Cocoa Association, adding that farmers’ incomes have increased by twofold. 

According to Phan Minh Thong, chair of Phuc Sinh JSC, coffee sold like hot cakes in 2023, and the demand was so high that farmers did not have coffee to sell. Thong said Phuc Sinh doesn’t have enough officers to receive all the businesses from all over the world coming to purchase Vietnam’s coffee. 

Rice farmers also have had a bountiful crop in 2023. Chung Van Lieu, director of Hoa Binh Agriculture Service Cooperative in Dong Thap, said all OM18 rice of 24 member farming households were sold at VND9,500 per kilogram. 

He estimated that farmers made a profit of VND35-40 million for every hectare of rice, a rarely seen high profit. 

Viet Nam Net