January 4, 2011

VASEP sees pangasius fish shortage in 2011

The Vietnam Association of Seafood Exporters and Processors (VASEP) has forecasted that 2011 pangasius fish exports will be more stressful than 2010 due to a worsening lack of input.

Pangasius fish exports will fall 40% on year to 900,000 tonnes this year, causing the export revenues to drop to US$1 billion, the association stated.

The scarcity of pangasius fish will last until May 2011, VASEP said, adding despite high prices of pangasius of VND22,000-23,000 (US$1.13-$1.18) per kilogramme, farmers still hesitate to raise the fish due feed price increases and lack of funds amid high interest rate.

In January, the VASEP and businesses have agreed to keep the export price of pangasius fish at minimum US$2.05 and US$3 per kilogramme for red meat and white meat, respectively.