Vietnam: Seabass prices dropped unexpectedly, people and businesses in the Mekong Delta had to sell at a loss

Frozen Seabass
Market & Price Trends
Published Jan 5, 2024

Tridge summary

The price of seabass has dropped to 60,000 - 65,000 VND/kg, causing difficulties for people and businesses in the Mekong Delta. Reduced demand from foreign and domestic consumers, as well as increased fish output, are the reasons for the price decrease. Despite the low prices, some businesses, such as Dai Ngu Nghiep Company Limited, continue to sell seabass below cost price, but the future consumption outlook is uncertain.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The price of seabass has decreased to only 60,000 - 65,000 VND/kg (depending on size) while the production cost is from 65,000 - 75,000 VND/kg, causing people and businesses in the Mekong Delta to fall into difficult circumstances. According to Dan Viet reporter's research, previously, the price of seabass in 2022 was from 90,000 - 95,000 VND/kg. In the first 9 months of 2023, the price of seabass is from 75,000 - 85,000 VND/kg, sometimes up to 90,000 VND/kg. Regarding the reason for the decrease in seabass prices, many people and businesses in the Mekong Delta said it was due to reduced demand from foreign consumers. Not only did the price of seabass decrease, but the prices of other aquatic products such as pangasius, shrimp,... all decreased. Domestic consumer demand also decreased, causing the price of seabass to drop unexpectedly. Regarding subjective reasons, due to increased and stable fish prices in 2022, output this year will increase. Mr. Trinh Tan Phat in Khanh Hoa ...
Source: Danviet
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