Mango prices drop due to market oversupply
Mango prices drop due to market oversupply
Mangoes have been abundant in Vientiane markets as vendors are pressured to lower the price in order to keep their business moving.
A number of stalls at Khuadin market in central Vientiane have been competing to sell their stock with the advertised price of the fruit at only 5,000 kip per kilogram, which has dropped from 15,000 kip over the past few months.
Normally, mangoes are imported from neighbouring countries such as Thailand, in order to boost the supply of the seasonal fruit due to high demand. However, supply of the local fruit has been overwhelming this year and has caused the price to dro p.
The rise in supply is attributable to the favourable weather. Lao farmers grow the fruit naturally and do not use fertilisers to force the plants to yield more.
If the weather is not good in some years, the supply of mangoes is insufficient and causes a price increase.
Vendors in Vientiane are now complaining that they are being forced to sell mangoes at a lower price due to oversupply of the product.
Some vendors in Khuadin market said at the moment local mangoes were cheaper than mangoes imported from Thailand however, they were still happy with sales as the consumption of the fruit is still good.
They said the price of the mangoes was different each year due to supply and demand of the goods in the local market.
Mr Xieng, who is a mango seller from Chansavang village, Sikhottabong district said the price of imported mangoes has dropped over the past several months due to the large supply of the local fruit.
He said despite this the price of imported mangoes was still high.
Mr Xieng said he orders over 20 kilograms of mangoes per day from Sikhay market in Vientiane, which is worth more than 200,000 kip.
The majority of these mangoes were imported from Thailand and always looked fresh and were more popular due to the quality of the fruit, he said.
He said he sold imported mangoes at a price of 15,000 kip per kilogram and despite the large supply of local mangoes, the imported fruit still sold better.
vientiane times
