June 21, 2012

Mekong Delta's pangasius fish price down despite thin supply

Despite limited supply, Mekong Delta region's pangasius fish prices have dropped to VND20,000 (US$0.96) per kilogramme, state media reported.

Earlier this month, prices of pangasius fish were between VND22,000-22,500 (US$1.05-1.08) per kilogramme, the newspaper said.

Lacking of financial resources, many local processors cannot afford to purchase pangasius fish material, causing the demand to drop, the newspaper explained.

As the production costs estimated at VND25,000 (US$1.20) per kilogramme, many pangasius fish raisers have been forced to narrow their growing areas.

Prices of pangasius fish babies in turn also dropped to VND20,000 (US$0.96) per kilogramme from VND40,000 (US$1.91) in early this year.

Pangasius fish is a key seafood product for Vietnam. The country targets to export the fish worth US$2 billion in 2012 versus US$1.8 billion in 2011.