40% shortage of pangasius expected for Vietnam’s seafood processors in 3Q due to material shortages

40% shortage of pangasius expected for Vietnam’s seafood processors in 3Q due to material shortages

Vietnam’s seafood processors will experience a 40% shortage of pangasius fish in the third quarter this year.
Update: (8/29/2013)

Vietnam’s seafood processors will experience a 40% shortage of pangasius fish in the third quarter this year.

Low prices of pangasius fish and lack of capital resources have discouraged farmers in the Mekong Delta region from continuing cultivation of the fish, said VASEP Vice Chairman Duong Ngoc Minh.

In addition, prices of aquatic feed are forecast to increase in the coming time, said Minh, adding the price of imported soybean oil cake has surged from $380 to $520 per ton. Similarly, imported fishmeal has marked up from $260 to $290 a ton despite the fall in prices of local raw materials like cassava and rice bran.

According to the statistics of VASEP, the seafood industry exported some $2.3 billion worth or products in the first five months, picking up nearly 10% against the same period in 2011. Pangasius fish export alone brought in nearly $700 million, rising 11% on year.

(from Vietnam News)