August 1, 2006

Vietnamese catfish prices rebound

Catfish prices (tra, basa) are finally going up after an extended period of decline, said Vice Chairman of An Giang Fisheries Association (AFA) Le Chi Binh.

The Vietnam Association of Seafood Exporters and Producers (VASEP) had attributed the decline to lower consumption in summer. However, the Ministry of Fisheries said the real reason was because factories have been putting downward pressure on prices. 

Prices of catfish declined by VND100-200/kilogram (0.6 US cents) a week last month. The price drop raised concerns and fears were heightened when factories stopped purchases temporarily.

Now that purchasing from factories has resumed, the prices of high-quality catfish has increased to VND12,000-12,500/kilogram (US$0.75).

However, now that concerns have eased, catfish breeders in some provinces are withholding stocks instead in the hopes of gaining better prices.