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Litchi farmers see 60-year high profits

Litchi farmers in the northern province of Bac Giang have seen 60-year high profits, totalling USD233 million in 2017 crop, according to the provincial people’s committee.

Litchi farmers in the northern province of Bac Giang have seen 60-year high profits, totalling VND 5.3 trillion (USD233 million) in 2017 crop, according to the provincial people’s committee.

Litchi farmers see 60-year high profits - 1


Director of the Bac Giang Provincial Department of Industry and Trade, Tran Quang Tan speaks at the meeting about litchi production on August 2.

The figures were announced in a report on Wednesday which said that despite a drop of 40% in output compared to the 2016 crop due to unfavourable weather, this year’s litchi had doubled in price so brought big revenues.

"The province produced 91,000 tonnes of litchi this year but they were sold for between VND40,000 - 60,000 (USD1.76-2.64) and even VND83,000 per kilo, almost doubling the 2016 crop," the report said.

The report also said that over 1,000 local households had revenues from VND100 million (USD4,406) and dozens of households made VND500 million from litchi.

According to the director of the provincial Department of Industry and Trade, Tran Quang Tan, 60% of litchi planted in Bac Giang was consumed domestically, and the remaining 40% was exported with export revenue totalling more than USD90 million.

"In addition to traditional export markets such as China, the US, Australia, EU, and Japan, Bac Giang litchi has also entered several new markets this year, such as Dubai, the Netherlands and Thailand," Tan said, adding that they are negotiating to bring the fruit to Canada in 2018.

Litchi farmers see 60-year high profits - 2

Litchi from Bac Giang are sold at a supermarket in Japan. Photo by Vietnamnet.


Tan also shared that they are targeting selling 65 per cent of the fruits in domestic market next year while still seeking for more foreign markets.

Some 30,000 hectares in the province were devoted to growing the fruit this year.
Source: dtinews.vn
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