Farmers lack sound market analysis

Farmers need more analysis and forecasting on local and world markets but the nation doesn’t have the high quality research centre necessary to track production trends with confidence.

This was the assessment of two experts in the field of agriculture market policies and analysis who said the 61 million people living in rural areas were being short-changed by the absence of high quality market research and forecasting of domestic and global farm produce trends.

Pham Quang Dieu, chief economist of the Agricultural Market Analysis and Forecast Joint Stock Company (Agrominitor), said that what financial, economic and business analysis was available at present was being provided to enterprises in urban areas.

Farmers, meanwhile, were being left to glean what limited information they could find from the media and they were missing out on opportunities and suffering unnecessary losses.

However, this was about to change, Dieu suggested, and farmers would soon become the main customers of information and analysis on production and marketing of farm produce.

But there wasn’t many company or Government department providing the high level of research, analysis and forecasting required, he said, created a potential market opportunity for private companies to fill the vacuum.

However, Dieu said, the State had a role to play and should increase its human resources and level of expertise in this field to make such information widely available to farmers and enterprises.

Dang Kim Son, director of the Institute of Policy and Strategy for Agriculture and Rural Development concurred.

Son’s institute, which comes under the Ministry of Agriculture and Rural Development, has submitted to the ministry a plan to provide better market information for farmers and traders. — VNS

Tags: Vietnam farmers