The prices of cabbage longan, which got the name thanks to its unique flesh with layers like cabbage leaves, have plunged to a five-year low due to oversupply.
In HCMC, the usually expensive fruit is now sold at VND45,000 (US$1.7) per kilogram, down 60% from a year ago.
“Traders are buying in large volumes but only at low prices, making farmers struggle to break even,” said Hanh, a farmer in the city.
Cabbage longans, originally from the Ba Ria – Vung Tau area, which is now part of HCMC, became popular in 2022 with prices at VND150,000 per kilogram, three times that of popular varieties.
The fruit was sought after at the time thanks to its distinct sweetness and crisp texture.
Many customers would place orders weeks in advance.
But prices have been dropping gradually as more farmers grew it and supply burgeoned.
Nguyen Van Thanh, who owns 1.5 hectares of longan farms in HCMC, said his output this year is already 15 tons so far, 150% that of the whole of 2024.
“I have large quantities to sell but prices are low. I have lost dozens of millions of dong.” (VND10 million = US$379).
To address the oversupply issue, some provinces and cities are seeking to get permits for exports through official channels to China and to Japan and the U.S.
Phuoc Hai commune in HCMC has been fostering tourism packages that include visits to longan orchards, allowing visitors to admire and pick fruits.
Source: VN Express