Vietnam: America and China buy massively a species of fish and all stomach bubbles, farmers in the West make big profits

Published May 4, 2022

Tridge summary

Pangasius processing businesses in the Mekong Delta of Vietnam are experiencing a surge in raw pangasius prices, driven by a robust export market, with the United States as the largest buyer. This increase is attributed to a significant rise in pangasius exports to the US and EU, reaching over $160 million and $46.7 million respectively in the first quarter of the year, showing growth of 123% and 86.2% compared to the previous year. The price of pangasius exported to the US is the highest, averaging $4.5/kg. The pangasius industry's upturn has brought about profitability for farmers and export companies, with Vinh Hoan Joint Stock Company (VHC) and Sao Ta Food Joint Stock Company (FMC) seeing substantial revenue growth. Despite challenges like increased costs and the ongoing war in Ukraine, the positive market trends are expected to persist, necessitating careful strategy and risk management by farmers and businesses to avoid overproduction and ensure sustainable growth.

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

Original content

Pangasius processing enterprises for export in the Mekong Delta said that in recent days, the price of raw pangasius continued to increase with a range of 31,000-33,000 VND/kg (depending on the type). The reason why the price of farmed fish in the West has peaked is due to a favorable export market, in which the United States is the largest buyer. According to the Vietnam Association of Seafood Exporters and Producers (VESEP), the value of pangasius exports to the US reached more than US$160 million, up 123% in the first quarter of this year. In the EU market, after many years of decline, the export of this catfish species also increased sharply by 86.2% compared to the first quarter of 2021, reaching 46.7 million USD. Some other countries also increased their purchases of Vietnamese pangasius, such as the Netherlands, which increased by 86%; Germany increased by 97%; Belgium increased by 120%; Spain increased 67%. In which, the price of pangasius exported to the US market is the ...

Source: Danviet