According to experts, farmers have been facing many risks because they have to depend a lot on imported raw materials, leading to continuously rising prices and costs.
The Vietnam International Agricultural Trade Fair 2022 opened in the Mekong Delta city of Can Tho on November 2, featuring nearly 250 booths of 100 enterprises across the country.
After a gloomy period due to the impact of the Covid-19 pandemic in Ho Chi Minh City, the purchasing power in the city has lately rebounded, leading to the strong recovery of the retail industry. In the first four months of this year, the total retail sales of goods and services reached VND1,777.4 trillion (US$76.76 billion), up 6.5 percent over the same period last year.
The prices of agricultural materials have increased sharply, especially fertilizer, making rice production more difficult for farmers and reducing profits. Therefore, converting to organic, environmentally friendly rice farming is not only a way to reduce production costs but also a sustainable path for the Mekong Delta.
According to experts, the war between Russia and Ukraine and economic sanctions by some countries against Russia will have a profound impact on the global economy, including Vietnam, especially on the import and export of agricultural, forestry, and aquatic products.
In developed countries, agricultural by-products are processed into many useful products, including fertilizers, colorants, and aquaculture feeds. However, this resource has not been fully utilized in Vietnam so far.