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Sunday, July 14, 2024

Tra fish prices hit three-year high

The Saigon Times

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HCMC – Tra fish prices soared to VND30,000-VND32,000 per kilogram, the highest level since 2019, resulting in tra fish farmers earning profits of VND5,000-VND7,000 for each kilogram sold.

A local tra fish farmer named Tuan in Tan Hong District, Dong Thap Province, said he was selling over 2,000 tons of tra fish to China, at VND30,000 per kilogram, news site VnExpress reported.

With the production cost being VND25,000 per kilogram, Tuan expected to earn VND5 billion in profit from the deal. “I suffered losses for three consecutive years; now I can somewhat compensate for the losses,” he said.

Regarding tra fish weighing 0.7-1 kilogram each to be shipped to the U.S., local exporters are purchasing them at VND32,000 per kilogram, up VND6,000-VND8,000 compared to the pre-Tet holiday.

Many local farmers attributed the price hike to a scarcity in tra fish supply, as many tra fish farming households suspended operations after they suffered consecutive losses.

Despite the price hike, Tuan expressed his concern over the next farming season, as the prices of fish feeds surged 40% to VND14,000 per kilogram. The prices of fish breeds also inched up twofold to VND60,000 per kilogram.

Duong Nghia Quoc, chairman of the Vietnam Pangasius Association, advised localities to control tra fish farming areas, avoid raising the fish en masse and closely cooperating with local exporters to prevent the oversupply of fish and the sharp drop in price.

In 2022, the local tra fish sector looks to produce over 1.6 million tons of tra fish products and achieve over US$1.7 billion in export revenue.

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