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Pangasisus breeders stricken by price plunge
Several pangasius fish breeders have suffered heavy loss due to price fall in recent days in the Mekong Delta.
A kilogram of pangasius fish fetched only VND18,000-19,000 on June 29, leaving breeders with a loss of VND3,000-3,500.
Despite of the price fall, farmers still find it hard to sell their fish because processing plants have reduced purchase.
Nguyen Van Mach, a breeder in Lai Vung District, Dong Thap Province, said that he had sold 170 tons of fish at a loss of VND600 million (US$28,000). Adding to the woe, they can not receive immediate payment but 1.5-2 months later.
Nguyen Van Dao, director general of Go Dang Seafood Company in the province, said that the pangasius price drop had been caused by abundant supply and low export price.
Not only breeders but also businesses are falling in difficult situation, he added.
According to the Vietnam Association of Seafood Exporters and Processors, pangasius export turnover touched $174 million in May, up 16 percent over the same period last year.
In the first five months this year, the fish export was estimated to reach $709 million, a reduction of 1.5 percent year on year.