|Workers of the QVD Food Company in DongThap province process basa fish to export to the US. (Photo: Duc Thanh)|
The price of Basa and Tra fish will remain high until May 2007 before beginning to decline, according to Mr. Nguyen Huu Khanh, President of the An Giang Seafood Processing Association.
On Jan 3, Tra and Basa fish prices hit VND 15,000 per kilo which translates into a sizeable profit of VND 3,000 – 3,500 per kilo.
High profits, however, tend to go hand-in-hand with over-supply and this means a decline in profits.
The number of new fishing farms in An Giang, Dong Thap and Can Tho Provinces is growing faster than other processing industries in the areas.