The price of a fish species in Vietnam increased sharply globally, the price sold to the US was the highest

Raw pangasius price increased by 20%

According to information from the Vietnam Association of Seafood Exporters and Producers (VASEP), after the price of raw pangasius in the Mekong Delta peaked at the end of the first quarter of 2022, the average export price of pangasius products Frozen fillets to most markets also increased sharply. 

Ta Ha, pangasius market expert of VASEP, said that the world pangasius market is in a good direction, orders are increasing, but raw fish is lacking.

VASEP forecasts that the shortage of raw materials will continue until at least the end of the second quarter of 2022. Currently, the price of pangasius size 0.7 - 0.8 kg/head fluctuates at 31,000 - 32,500 VND/kg; size 1 - 1.2 kg/head, ranging from 32,000 to 34,500 VND/kg. 

Thus, over the same period, the price of raw pangasius has increased from 8,000 to 10,000 VND/kg over the same period last year and increased by about 20% compared to the end of 2021.

The price of pangasius sold to the US increased even higher than the peak of 2019

According to VASEP, the price of raw pangasius increased sharply, pulling the average export price of frozen pangasius fillets to $3.2-3.4/kg.

In which, the average export price of pangasius to the US market was the highest and increased sharply to more than 4.5 USD/kg. This is a price higher than the peak of 2019. 

The shipments of pangasius processed and transported to the US during this time were mainly frozen pangasius fillets of 7-9 oz size; 8 - 10 oz and 10 - 12 oz. Meanwhile, frozen commercial fish of 3 - 5 oz and 5-7 oz sizes are in short supply.

The average export price of frozen pangasius fillets to the Chinese market is also much higher than last year, ranging from 2.4 to 3.25 USD/kg (the same period last year was at 1.9 - 2 USD). 7 USD/kg).

In addition, Vietnamese enterprises are also exporting frozen whole/sliced pangasius products, frozen pangasius stomachs, dried tra fish bubbles, frozen whole pangasius with offal, fish skin. frozen block... to China.

The price of frozen fish fillets exported to the EU is also positive, ranging from 2.9 to 3.45 USD/kg. In which, export prices to the Netherlands, Germany, Belgium and Spain also increased and remained stable compared to the same period in 2021.

The price of raw pangasius has increased in recent years, giving farmers the motivation to return to farming, but the cost of feed, seed, and input materials has also increased as quickly as the selling price of fish. 

Therefore, so far, both farmers and businesses have not made high profits. In return, the output market factor is positive and more positive in the coming quarters.

The representative of VASEP said that the war in Ukraine has not come to an end, so this is also a significant influence and difficult to orient the market. analysis, farming output with market fluctuations to avoid repeating the oversupply crisis like a few years ago.

Source: K.Nguyen - Dan Viet Newspaper