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December 29, 2011

 

Mekong Delta's pangasius fish prices drop
 

 

Due to weak overseas demand, Mekong Delta's pangasius fish prices dropped sharply by VND3,000-4,000 (US$0.14-0.19) to VND28,500-29,000 (US$1.36-1.38) per kilogramme, local media reported Wednesday (Dec 28).

 

With the unprocessed fish price drop, pangasius farming remains more fragile and vulnerable than other forms of aqua-culture, the newspaper said.

 

Truong Dinh Hoe, general secretary of the Vietnam Association of Seafood Exporters and Producers (VASEP) attributed the price drop to increased supplies coupled with a decline in demand in some importing countries during Christmas and New Year holidays.

 

Earlier this month, VASEP's Vice Chairman Duong Ngoc Minh forecast that price of pangasius fish may increase over VND30,000 (US$1.43) per kilogramme due to short supply which will last until mid-2012.

 

Due to price fall, processing plants are expected to unilaterally terminate the fish purchase contracts they earlier signed with farmers, experts said.

 

If processing plants cancel purchase contracts, farmers will fall in trouble, and they will be forced to give up fish growing, making the pangasius fish supply to fall next year.

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