HCMC – The average income of a farmer stays at only US$440 per year this year, or one-third of Vietnam’s gross domestic product (GDP) per capita, according to a research of the Institute of Agricultural Science for Southern Vietnam.
Bui Chi Buu, director of the institute, said despite the high price of farm produce, farmers still had to pay much for their input costs due to high inflation, making their standard of living decline.
Prices of many commodities such as steel, cement, gasoline or medicine have gone up much this year with an average rise of 30-100%.
Some commodities directly affecting farmers include fertilizers, pesticides, power, gasoline. Even when the price of farm produce rises, it can barely cover expenses that farmers incur, Buu explained.
Besides, farmers are more vulnerable to changes of domestic and global markets due to the country’s economic international integration.
Vietnam has made big achievement in fighting against poverty, helping around 28 million people out of poverty, said donors in a consultative group meeting in Hanoi this week.
However, donors are still concerned over the slow speed of poverty reduction with many people still trapped in poverty, especially ethnic groups and poor farmers.
According to the Ministry of Industry and Trade, the estimated GPD this year will reach US$119 billion, or a GDP per capita of US$1,300.
