In contrast to the excitement and enthusiasm in the first months of 2024 because of high profits (each kilo of pangasius fish earned more than 1,000 VND), at this time, pangasius farmers in the West are worried because of plummeting prices.
Recorded in localities such as Dong Thap, Tien Giang, An Giang... the price of raw pangasius fluctuates from 26,000 - 28,000 VND/kg, down 1,000 - 2,000 VND/kg compared to February 2024. At this price, farmers are losing about 202 million VND/ha.
Specifically, in Chau Phu (Long Xuyen City, An Giang Province), raw pangasius fish of size 800 - 1.1 kg is at 26,500 - 27,000 VND/kg, fish of size 1.4 - 1.5 kg is purchased at 27,500 VND/kg.
In Dong Thap, pangasius fish weighing 800 - 1.1 kg fluctuated around 26,800 - 27,000 VND/kg; large pangasius fish weighing 1.4 - 1.5 kg were purchased at 27,500 - 27,700 VND/kg. In Can Tho, pangasius fish weighing 800 - 1.1 kg were purchased at 26,200 - 27,500 VND/kg.
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| Raw pangasius prices decrease, farmers face difficulties |
Mr. Dang Van Ngung - a pangasius farmer in Hong Ngu City (Dong Thap) said that the current cost of raising pangasius is at 28,200 VND/kg, while the selling price only fluctuates around 26,800 - 27,700 VND/kg, causing farmers to suffer heavy losses.
The Vietnam Association of Seafood Exporters and Producers acknowledged that after a steady increase in the first two months of this year, since March, the price of pangasius fingerlings and the price of pangasius in ponds have both decreased. Explaining the reason for this decrease, VASEP said that the price of raw pangasius has decreased due to abundant supply, while export output and domestic consumption are slowing down, so traders and businesses have reduced their purchasing prices.
The price of raw pangasius fish decreased while the cost of input materials increased, making farmers less interested in releasing fish. This caused the price of pangasius fingerlings to also decrease. Accordingly, in March 2024, the price of pangasius fingerlings decreased by 27% compared to February, down to VND 27,585/kg - the same level as at the end of 2023.
The Vietnam Pangasius Association (VINAPA) assessed that the pangasius industry has not yet escaped the downward cycle, and it is predicted that it will take a long time to recover when supply and demand reach balance again.
According to data from the Ministry of Agriculture and Rural Development, aquatic product output in March 2024 is estimated at 725,400 tons, up 2.4% over the same period last year. Aquaculture output in the month is estimated at 400,300 tons, up 3.9%. Pangasius output in March 2024 is estimated at 149,100 tons, up 3.4% over the same period last year.
While farming area and harvest output increased, export turnover in the first half of March decreased by 18% compared to the same period last year, causing many difficulties for this key industry in the Mekong Delta.
Vietnam Customs data shows that in the first half of March 2024, Vietnam's pangasius exports to markets reached a value of 74 million USD, down 18% over the same period. Cumulative pangasius exports up to March 15, 2024 decreased slightly by 0.05% and reached more than 329 million USD.
VASEP expects pangasius prices to recover this year thanks to strong demand from China, the EU and several other major markets. However, input material costs remain a major problem for fish farmers.
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