Farmers delighted with high buying prices of sugarcane at beginning of year

In recent days, sugarcane growers in the Mekong Delta are delighted to harvest the main sugarcane crop of 2023-2024 as bumper harvests of sugarcane accompanied by soaring prices have fetched farmers huge profits.

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Farmers are delighted with high buying prices of sugarcane at the beginning of the year

Nguyen Van Ut, a sugarcane farmer in Dai An 1 Commune in Soc Trang Province’s Cu Lao Dung District happily said that this sugarcane crop, his family planted 1ha and they so far yielded more than 120 tons per ha. They earned profits over VND75 million (US$3,034) per ha after deducting production expenses.

In addition, he also received initial investment support in fertilizers and seeds with low prices from Soc Trang Sugar Joint Stock Company, so his family’s profits increased by 10 percent to 20 percent over the same period last year.

Vice Chairman Huynh Thanh An of the People's Committee of Cu Lao Dung District said that currently, the district has nearly 3,000 hectares of sugarcane with an average yield of 120 tons a ha. Some 660 hectares have been harvested.

Currently, the price of sugarcane is VND1,320 a kg if traders buy the agricultural product in the field. Farmers thus earned a net income of nearly VND80 million per ha after deducting all expenses.

Furthermore, the locality cooperated with Soc Trang Sugar Joint Stock Company in implementing support policies such as the provision of seedlings, and fertilizer and buying all sugarcane to assure farmers of their income. Most sugarcane growers in Tra Cu District of Tra Vinh Province these days are all smiling brightly because their agricultural product was bought at VND1,280 a kg in the field.

This year is the third consecutive year that sugarcane farmers have had a successful harvest and good prices.

Director Tran Ngoc Hieu of Soc Trang Sugar Joint Stock Company said that the company has developed a raw material area of over 3,400 hectares in Soc Trang province with 12 cooperative groups, including over 3,000 hectares in Cu Lao Dung district and 400 hectares in My Tu district in the 2023-2024 sugarcane crop. Right from the beginning of the season, the company spent a total cost of nearly VND30 billion to buy fertilizer, and sugarcane seeds for farmers.

Moreover, the company helped farmers to improve their land. Sugarcane prices in the Mekong Delta region in general and Soc Trang province increased VND500 kg higher than every year.

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