Pangasius prices reach record high

The prices of pangasius in Vietnam have reached nearly VND30,000/kg, the highest in the past two years.

However, the happiness of the farmers has not been complete as there is no more fish to sell to businesses.

In recent days, pangasius in provinces such as An Giang, Dong Thap and Can Tho has been sold from VND27,000 to 28,000/kg, while these figures were only around VND20,000 - 21,000/kg in the same period last year.

Compared to about 2 months ago, the prices of pangasius for export in many localities in the Mekong Delta have increased by at least VND3,000-5,000 /kg, reaching the highest level in more than 2 years.

According to an enterprise processing pangasius for export in Dong Thap province, the current prices of the fish have sharply risen as many units and businesses have increased their purchase to serve export and market demand that have also been on the rise in the context that the economies worldwide have gradually been recovered from the COVID-19 pandemic.

In addition, many localities in the Mekong Delta have sharply reduced the pangasius farming areas, which leads to insufficient amount for export and consequently results in current record high prices.

“My family is resuming the farming of the fish after two years of suffering from severe loss in the past two years,” said Le Thanh Cong who is raising pangasius on a total area of 2 hectares in An Khanh Commune, Chau Thanh District, Dong Thap Province.

“Currently, the prices of pangasius are high. Farmers who achieve an output of 350-400 tons/ha with little fish loss could be profited from VND3,000-4,000 /kg,” he said.

According to Cong, following the trend of increasing prices of pangasius, the prices of seeding pangasius have also increased by at least VND2,000-4,000/kg.

In many localities in the Mekong Delta, the pangasius type of 30-40 fish/kg is priced from VND35,000 to 37,000/kg. The increased prices of pangasius have prompted farmers in many localities to buy seed to raise commercial pangasius.

“On average, the Mekong Delta has more than 5,000ha of pangasius farming for export each year, mainly focusing on pangasius farming provinces such as An Giang, Dong Thap, Tien Giang and Ben Tre,” said Duong Nghia Quoc, Chairman of Vietnam Pangasius Association.

However, after nearly two years, the prices of raw pangasius dropped dramatically. The farmers therefore suffered heavy losses and gradually abandoned their ponds.

“Suddenly, the prices of pangasius have increased again since the Lunar New Year, but the farmers still feel unhappy because there is insufficient fish to sell to exporters,” he said.

Moreover, many businesses offer very high purchase prices of nearly VND30,000/kg of pangasius with sizes from 850 - 900 grams/fish (under 1kg/fish) to sell to the US market. Unfortunately, only a few farmers have been able to meet the requirements of the businesses.

Explaining the reason why the prices of pangasius have been pushed up, Duong Nghia Quoc said that the amount supplied to the market is limited as many farmers have switched to raising other aquatic species after two years suffering from severe loss due to the effects of the COVID-19 pandemic.

It is forecasted that the price of pangasius is likely to increase further in the near future due to increased export demand and limited supply.