The price of a fish specie in Vietnam increased sharply globally, price sold to US was the highest

Published 2022년 5월 3일

Tridge summary

The article highlights the significant increase in pangasius export prices, with the average price of frozen fillets rising sharply due to a raw material shortage in the Mekong Delta. This shortage is expected to persist until the end of the second quarter of 2022, resulting in a 20% increase in raw pangasius prices compared to the end of 2021. This price hike has affected export prices to major markets like the US, China, and the EU, with the US seeing the highest increase. Despite these higher prices, farmers and businesses have not seen substantial profits due to increased costs in feed, seed, and input materials. The ongoing war in Ukraine further complicates the market situation.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to information from the Vietnam Association of Seafood Exporters and Producers (VASEP), after the price of raw pangasius in the Mekong Delta peaked at the end of the first quarter of 2022, the average export price of pangasius products Frozen fillets to most markets also increased sharply. Ta Ha, pangasius market expert of VASEP, said that the world pangasius market is in a good direction, orders are increasing, but raw fish is lacking. Meanwhile, according to data from the Directorate of Fisheries (Ministry of Agriculture and Rural Development), by the end of March 2022, the new farming area of pangasius was only 94% of the same period last year. Harvest output reached 350,000 tons, up 8.8% over the same period last year. In some key pangasius production localities such as Dong Thap, pangasius farming area only reached 94.6%; Vinh Long's intensive pangasius farming area also decreased by 22.9% over the same period last year. VASEP forecasts that the shortage of raw ...

Source: Danviet