Slump in pangasius exports

According to the Directorate of Fisheries under the Ministry of Agriculture and Rural Development, the breeding area for pangasius fish is currently around 5,910 hectares with output around 1.28 million tons and export turnover of US$1.74 billion, a year-on-year drop of 3.4 percent.

These figures were revealed at a meeting organized by the ministry on January 25, to review production and consumption of pangasius in the Mekong Delta in the year 2012 and plans for 2013.

At the meeting, Truong Dinh Hoe, General Secretary of Vietnam Association of Seafood Exporters and Producers (VASEP), predicted that the production of pangasius in 2013 will decrease below one million tons or around 800,000 tons, resulting in low export turnover of $1.5 billion.

This fall is the result of the present economic crisis. However, it needs to be addressed and problems solved for the sector to develop and grow pangasius exports by 2014.

The pangasius breeding sector has never before fallen into such difficult times, with price down to VND19,200 per kilogram while feed and other overheads have increased, resulting in farmers suffering a huge loss of VND4,000 per kilogram.

More worrisome is the fact that seven out of ten of Vietnam’s major export markets for the fish, such as the EU, the U.S., China, middle eastern  countries and Egypt have decreased imports of the fish due to economic woes and spending cuts.

The country has around 300 exporters but only 70 of them have processing facilities. Many enterprises that cannot directly process have ruined the market by decreasing prices.

Nguyen Huu Dung said that the Vietnam Association of Seafood Exporters and Producers are dishonest as they pour water into the fish to increase its weight, a practice which is most unacceptable.

By H. Loi – Translated by Uyen Phuong

Other news

Most view

Deputy PM Hue visits a flower cooperative in Lam Dong (Photo: SGGP)

Vietnamese gov’t to finance cooperatives

Cooperatives have so far grown contributing 5.6 percent to the country’s Gross Domestic Product, said participants at a conference in Hanoi yesterday; accordingly, Deputy Prime Minister Vuong Dinh Hue proposed financing them.


VNPT & SeABank cooperate to enhance connections

The Vietnam Posts and Telecommunications Group (VNPT) and SeABank just co-signed cooperation agreement, aiming to develop the two sides’ economic, business and investment potential.


Self - introduction

VNPT targets to be leading digital service provider in Vietnam

The grand opening ceremony of the VNPT-Information Technology Company (VNPT-IT), a new member of the Vietnam Posts and Telecommunications Group (VNPT), was held yesterday in Hanoi. With thousands of IT engineers and the focus on developing state-of-the-art technological products related to Artificial Intelligence (AI), Bigdata, and Blockchain, the new company is considered the main force to help VNPT fulfill the goal of becoming a leading digital service provider in Vietnam and an important Digital Hub of the neighborhood as well as the world.

Stock market