Shobha Shetty, Global Director of the Agriculture and Food Global Practice at the World Bank, made the statement while making a field trip to a rice cultivation site at New Green Farm Cooperative in Thot Not district, Can Tho city, on March 19.
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Shobha Shetty, Global Director for Food and Agriculture at the World Bank (left) inspects rice grown under the emission-reducing farming model. |
The New Green Farm Cooperative currently comprises over 100 households cultivating 148 hectares of rice. It has been part of the project for three consecutive seasons.
According to Dong Van Canh, Head of the Cooperative, farmers have adopted the "One Must, Five Reductions" technique, which requires using certified seeds while reducing seeding rates, fertilizers, pesticides, water usage, and post-harvest losses. Additionally, by integrating organic fertilization from rice straw, farmers have been able to reduce chemical nitrogen fertilizer use by 40%, lower production costs by nearly 1.7 million VND (67 USD) per hectare per season and increase profits by 3.5 million VND per hectare per crop.
New Green Farm is also the first cooperative in Can Tho to adopt circular agriculture. Instead of discarding rice straw, cooperative members repurpose it to cultivate straw mushrooms and produce organic fertilizer, creating additional income streams.
"The circular economy model maximizes the use of by-products, enabling farmers to earn more from selling straw, mushrooms, and organic fertilizer," Canh explained.
Shetty said that her visit helped her better understand low-emission rice farming practices. Vietnam is a pioneer in low-emission rice farming, she said, adding that many people around the world are eager to visit the country to learn from this model.
According to Deputy Minister of Agriculture and Environment Tran Thanh Nam, despite fluctuations in global food prices and recent drops in rice prices, farmers involved in the one million-hectare rice project remain financially secure because lower production costs have increased their profits. As a result, even when rice prices drop, farmers maintain stable incomes and peace of mind, thanks to partnerships with enterprises that ensure market access.
Recognizing the project’s positive impact on farmers’ livelihoods, Nam noted a growing interest among farmers in adopting high-quality, low-emission rice cultivation.
To further support the project, the WB is helping Vietnam access the Transformative Carbon Asset Facility (TCAF) and is preparing a technical and infrastructure support project for high-quality, low-emission rice production in the Mekong Delta, which will be financed through WB loans.
To accelerate the signing of agreements with TCAF and finalize project proposals, the WB has organized a working delegation to work with the Ministry of Agriculture and Environment and provinces involved in the one million hectare rice project from March 17 to March 25.
Source: VNA