Jackfruit are bought by traders in the southern province of Dong Nai. Photo by Ngoc HuuJackfruit prices have increased 6-7 times over the same period last year as traders step up their purchases of the fruit for export, mainly to China.
According to surveys carried out in the southern province of Dong Nai and the Mekong Delta provinces of An Giang, Dong Thap, Vinh Long and Tien Giang, a jackfruit, weighing around 10 kilograms, is currently sold for VND45.000-VND48.000 ($1.91-$2) per kilogram at the farm.
“The jackfruit price last year was only VND7,000 per kilogram but few traders bought,” said Tam, a farmer in Tien Giang. “Now, the price is seven times higher, and traders are competing with one another to buy the fruit for export.”
Tam said his family has just harvested and sold half a ton of jackfruit at the price of VND38,000-VND48,000 per kilogram, the highest price in the past four years.
According to traders in Dong Nai, the price hike stems from higher foreign demand.
Traders said they buy tens of tons of jackfruit a day, but the volume is not enough to meet the demands of fruit exporters.
According to provincial agriculture departments, China has removed Covid restrictions, creating favorable conditions for Vietnamese firms to export bigger volumes of farm produce to the huge market.
Another reason for the price hike is the thinner supply, according to jackfruit growers.
After being hit by the Covid pandemic, farmers reduced their jackfruit-growing areas, so the output of the fruit this year is 20-30% lower than in previous years. In Tien Giang, many farmers switched to growing durian or corn for higher profits.