Pangasius fish breeders in the Mekong Delta are currently facing huge losses of VND1 billion (US$48,000) per hectare, according to Duong Van The, deputy head of Directorate of Fisheries.
|Pangasius breeders are facing rough times (Photo: SGGP)|
The fish breeders are now losing VND3,000 on each kilogram of pangasius fish, which now fetches only VND22,000-23,000 a kilogram.
Several businesses have had to reduce the price, in a bid to sell and recover part capital. A kilogram of pangasius fillet exported to the European market has dropped from US$3 to only $2.6 a kilogram.
The Mekong Delta Association of Seafood Exporters and Producers said that fish breeders and businesses now need VND20 trillion ($952 million) to recover and develop production. However they are finding it hard to access sufficient capital.