Tiểu luận assignment subject microeconomics topic good news in agriculture is bad news for vietnam farmers

TOPIC: GOOD NEWS IN AGRICULTURE IS BAD NEWS FOR VIETNAM FARMERS.i UNCERTAIN EVENTS AFFECTING THE PRICE OF RED DRAGON FRUIT IN LONG AN While the price of other fruits in the Mekong Delta

UNIVERSITY UEH BUSINESS SCHOOL SCHOOL OF MANAGEMENT

ASSIGNMENT SUBJECT: MICROECONOMICS TOPIC: GOOD NEWS IN AGRICULTURE IS BAD NEWS FOR VIETNAM

FARMERS

Lecturter: Nguyễn Hữu Lộc Class: 21C1ECO50100156 Student: Liêng Bích Diệu

TABLE OF CONTENT TABLE OF CONTENT 2

INTRODUCTION _ 3

(i) UNCERTAIN EVENTS AFFECTING THE PRICE OF RED DRAGON FRUIT IN LONG AN 4

(ii) USE SUPPLY AND DEMAND TOOLS, METHOD "THREE-STEP ANALYSIS OF EQUALITY CHANGE," AND PROPER GRAPHS TO EXPLAIN CAUSES 4

1 Factor of excess supply, supply is greater than demand _ 4

2 The demand factor falls, demand is less than supply 5

3 The influence of exports 5

(III) IN THE LONG TERM, RECOMMENDATIONS ON THE SUPPLY AND DEMAND SIDES TO IMPROVE PROFITS FOR AGRICULTURAL PRODUCTS ARE

MADE 8

1 Using cutting-edge technology _8

2 Boosting exports 8

3 Innovation in product form _ 8

4 E-commerce platform 9

5 Improve products to meet the requirements of epidemic prevention. _ 9

REFERENCES _ 100

2020 and the first half of 2021 will be noted for several unusual events; it was a time when Vietnam and the rest of the world will have faced numerous challenges, from the COVID-19 epidemic to natural disasters Many types of fruits showed a sudden steep fall in selling prices from the middle of 2020 to the middle of 2021 Simultaneously, various sorts of agricultural products have begun to enter the season; output is high, but exporting to foreign markets is difficult, and domestic consumer demand is low This is a new issue that will support Vietnam's agriculture in setting the appropriate course for long-term economic development.

TOPIC: GOOD NEWS IN AGRICULTURE IS BAD NEWS FOR VIETNAM FARMERS.

(i) UNCERTAIN EVENTS AFFECTING THE PRICE OF RED DRAGON FRUIT IN LONG AN

While the price of other fruits in the Mekong Delta appears to be rising sharply (the price of milk apple has doubled from 10,000-15,000 VND/kg to 22,000-25,000 VND/kg, the price of Taiwanese mangoes has nearly tenfold to 50,000-51,000 VND/kg), the price of red dragon fruit in Long An has dropped dramatically, and nearly 30,000 tons are in need of "rescue" (Ca Linh, 2020).

The price of red dragon fruit was 6,000-8,000 VND/kg at the time, compared to 40,000-50,000 VND/kg at the peak of the same season last year, and export goods costing up to 60,000 VND/kg This year's supply is plentiful, according to garden owners, and growers are expecting a healthy crop (Vinh Quang, 2021)

This is the place in the country where the most dragon fruit is grown The production of dragon fruit farming, which covers roughly 10,000 hectares, is anticipated to be 245,000 tons Farmers, on the other hand, have not been delighted for long because the harvest is abundant in fruit, but they are concerned about "losing" Tet due to a lack of dragon fruit output (Thái Bình, 2020).

(ii) USE SUPPLY AND DEMAND TOOLS, METHOD "THREE-STEP ANALYSIS OF EQUALITY CHANGE," AND PROPER GRAPHS TO EXPLAIN CAUSES

*The reasons for the drop in the price of red dragon fruit on the market

We start by looking at how this event changed the supply and demand curves' equilibrium.

First, we consider whether this event causes the supply and demand curves to shift,

or both We consider the following factors:

1 Factor of excess supply, supply is greater than demand

Many dragon fruit producers have recently adopted innovative technology to improve the care of this fruit tree.Many gardeners have used the approach of lighting to warm the plants in order to e ncourage them to flower They also use small light bulbs to reduce electricity usage while still providing enough light for the tree Certain gardeners also employ automatic watering

systems to save up to 80% of human resources and water consumed for irrigation Here, productivity is high and constant, with many generations of dragon fruit gathered in a row without a break in supply

→ Thanks to the application and innovation of cultivation techniques, dragon fruit is produced faster and more → The supply curve shifts to the right

2 The demand factor falls, demand is less than supply

According to the Department of Statistics, the unpredictability of the COVID-19 epidemic's progression and the lengthening of the social distancing period are wreaking havoc on Vietnam's labor market In the third quarter of 2021, the average monthly income of workers in the service and public sectors was 5-6 million VND, down 13% from the previous quarter As a result of the disease, people's economic status deteriorated, and they began to eat and live more sparingly (Thúy Hiền, 2021)

→ Reducing their purchasing power → The supply curve swings to the left

3 The influence of exports

In the ASEAN area, Vietnam is China's largest trading partner, and it ranks ninth globally Due to its good geographical location and enormous consuming market, this is our country's second-largest customer (after the United States) (accounting for 70-80 percent ) However, because this market is becoming more demanding, they are closely checking nCov on packaging and means of transporting agricultural products from Vietnam after a case of dragon fruit sample in the Cau Phao area was discovered to be positive for nCov (Quang Ninh) (Minh Chiến, 2021).

For Vietnamese agricultural exports, China has begun to implement a series of new laws Many agricultural products that do not fulfill the requirements are returned to the country, causing delays at the border (Hồng Châu, 2021)

→ Due to oversupply, the selling price was dropped significantly, but domestic

purchasing power was insufficient to meet the demand

Second, after evaluating the elements that influence supply and demand, we conclude that this event caused supply to grow, demand to fall, and the supply curve

to shift to the right while the demand curve shifted to the left

Third, we compare the old and new equilibrium of red dragon fruit using supply and demand graphs to see how this event has changed the supply and demand of red dragon fruit goods in Long An province

(III) IN THE LONG TERM, RECOMMENDATIONS ON THE SUPPLY AND DEMAND SIDES TO IMPROVE PROFITS FOR AGRICULTURAL PRODUCTS ARE MADE

1 Using cutting-edge technology

Leading agencies should work to create conditions and provide guidance for farmers

to have access to new equipment in order to increase product quality We can use pesticides when they are needed, rather than indiscriminately, and farming homes can use an automatic watering (coupled with fertilizer) model, as well as fluorescent lamps with light red to handle dragon fruit to avoid being out of season High output is

no longer vital at this time; instead, we should focus on the quality of each agricultural product so that homes are no longer faced with a backlog of unfinished harvest as well as assist consumers in having a better food experience (Minh Hoàng, 2019)

It is strongly suggested that official dragon fruit export contracts be signed to reduce potential hazards, especially given the difficult dynamics of the COVID-19 outbreak (Anh Minh, 2021).

2 Boosting exports

We are currently reliant on one of the main export gates, China, which has resulted in passivity in the distribution of Vietnamese agricultural products to international markets Many overseas importers are interested in building a supply of high-quality dragon fruit from Vietnam, thus we should actively extend the market by bringing dragon fruit to the EU, Asia, Europe, and America (Lưu Hiệp, 2021), (Dỹ Tùng, 2020)

3 Innovation in product form

Another viable option nowadays is to improve the product form, which will aid in increasing domestic demand Dragon fruit is also used to make a variety of products, including freeze-dried and frozen dragon fruit, as well as bread and pizza Besides, dragon fruit is rescued by a one-of-a-kind roll cake at a street corner in Hanoi Wontons made from red dragon fruit also attract customers to promote domestic consumption Buyers are more enticed to use products made from fruit instead of raw fruit because of the variety of processing methods available (Làm Hoành Thánh Bằng Thanh Long Ruột đỏ Bán Không Kịp Nghỉ Tay, 2020) , (Độc đáo Bánh Cuốn Thanh Long Hút Khách Hà Nội, 2020) .

4 E-commerce platform

This is a fairly new solution, not yet applied by many farming households Speed, reach, and ease of access to clients are all advantages of e-commerce channels The biggest problem is maintaining product freshness after it reaches the consumer, which

is why many manufacturers are unwilling to depart from established trading practices

To quickly promote the potential form of e-commerce, enterprises must be adequately trained in the production process and product promotion (Khánh An, 2021)

5 Improve products to meet the requirements of epidemic prevention

The leading agencies should cooperate with businesses to closely associate with households and cooperate in production towards GlobalGAP and VietGAP certification Furthermore, it is necessary to promptly support exporters when transporting and circulating to ensure smooth circulation, speed up the stages of preliminary processing, fumigation, nCov quarantine, and support inspection fees before exporting, and send samples to the EU market for testing in accordance with the requirements of the EU market and importers.

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PLAGIARISM CHECK

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