January 19, 2023
Higher feed prices unease Vietnam's pangasius farmers
The price of pangasius feed in Vietnam has continuously increased in recent times, and local pangasius farmers are now facing the risk of loss.
By the end of 2022, seafood export turnover was expected to reach US$11 billion, bringing Vietnam into the top three seafood exporting countries in the world. There are also hopes that the domestic animal and aqua feed production industry will soon grow with the output of export products.
Dong Thap and An Giang provinces in the Mekong Delta are considered cradles for raising pangasius and basa fish for export throughout Vietnam.
With COVID, pangasius farmers have been seriously affected, and the increased prices of feed add to the challenges.
Nguyen Thanh Binh, director of Chau Thanh Seafood Production and Service Cooperative in Dong Thap Province's Chau Thanh District, said that in 2021-2022, the price of pangasius fluctuates from ₫21,000/kg to ₫22,200/kg.
Although the selling price of fish is higher than before, farmers are unable to make a profit as the price of fish food has increased many times, thus pushing up the cost of raising fish.
In localities with large shrimp farming areas such as Ca Mau, Bac Lieu, Soc Trang and Kien Giang, farmers are concerned that shrimp prices tend to decrease but the price of aquafeed still increase. A shrimp exporter in Soc Trang said that high feed prices are one of the factors pushing Vietnam's shrimp farming costs to be the highest in the world.
According to shrimp farmers, the price of shrimp fluctuate erratically while the price of feed, accounting for about 70% of the cost of shrimp farming, only rose.
Tran Van Viet, director of Thanh Cong Industrial Shrimp Farming Cooperative in Ca Mau Province's Dam Doi District, disclosed that of the 10 shrimp farmers present, nine of them buy food on credit.
The price of animal feed is currently over ₫350,000 (US$15.05) a bag, an increase of nearly ₫80,000 (US$3.44) compared to a previous period.