Pangasius prices on the rise

Prices of pangasius for processing have increased in response to high demand from the Cuu Long (Mekong) Delta provinces.

The province has dedicated 2,000ha of land to rearing pangasius each year, with a capacity to produce 358 tonnes of pangasius per hectare, the department said.

Farmers and pangasius export processing enterprises in Dong Thap have seen a profit based on the current prices. Most of these enterprises rear pangasius under the safety standards of Global GAP, VietGAP, Best Aquaculture Practices and the Aquaculture Stewardship Council to ensure an adequate supply of high-quality raw materials for export processing.

According to Dong Thap’s development plan, by 2020, the total output of rearing pangasius will reach 541,000 tonnes, and the province’s total capacity of processed pangasius will be 250,000 tonnes. Pangasius will be one of five key products included in the provincial restructuring plan for agriculture.

Enterprises in the Mekong Delta localities expected prices to continue rising because the current fish supply for processors has reached 50 per cent of demand, at 4,500 tonnes per day.

Ho Van Vang, Vice Chairman of the Vietnam Pangasius Association, said export orders for pangasius early this year rose by 10 percent year-on-year, while the output of pangasius reared in 2016 for export processing fell because farmers had suffered losses in pangasius development last year.

Despite the higher prices of pangasius for processing, farmers have not increased the area dedicated to rearing pangasius as they do not expect the price to remain at its current high level over the next 6-8 months, according to the association.

So far, Can Tho city has dedicated 334ha to breading pangasius, or 79 percent of the total area rearing pangasius in the same period last year, and its total output is 12,000 tonnes, or 78 percent of the total output year-on-year, said representatives of the Can Tho Fishery Sub-department.