Pangasius export officially reached USD 2 billion

Pangasius export turnover in the first 11 months of 2018 increased strongly by 27.4% compared to the same period last year, reaching 2 billion USD. The Ministry of Agriculture and Rural Development predicted that the market situation can continue to have favorable progress from now to the end of the year.

According to the Ministry of Agriculture and Rural Development, pangasius export in the first 11 months of the year officially reached USD 2 billion, increasing by 27.4% compared to the same period of five years.

Thus, Pangasius export turnover reached the target earlier than expected by Vietnam Pangasius Association (VASEP).

Previously, Mr. Duong Nghia Quoc, Chairman of Vietnam Pangasius Association, predicted that with the favorable situation for pangasius market right from the beginning of the year, the export turnover of pangasius this year could reach the record level of 2. billion USD, 200 million USD higher than that of 2017.

The Ministry of Agriculture and Rural Development said that the situation of Pangasius farming has many advantages, the price of Pangasius material is still high, many households have increased the amount of feed to reach the harvest weight to meet the demand of enterprises for processing at the end of the year.

Pangasius production in the Mekong Delta provinces in the first 11 months of the year was estimated at nearly 1.3 million tons, up 8.3% compared to the same period last year.A number of major Pangasius farming provinces with large production such as Dong Thap with an output of 452,000 tons, an increase of 3.7% over the same period. An Giang has an output of 333,200 tons, up 36%. Ben Tre has a production of 182,000 tons, an increase of 3.1%.

The ministry estimates that the whole year ‘s tra fish production is 1.35 million tons, increasing by 8%, because of the favorable prices and consumption markets.

Ministry of Agriculture and Rural Development informed that the price of raw pangasius in the Mekong Delta last month has shown signs of going down after a continuously stabilizing price at a record level for more than 1 month.

As of November 23, the price of pangasius white meat of type I material (700 – 900 grams/fish) reached 32,000 – 33,000 VND/kg compared to a month ago at 35,000 – 36,000 VND/kg.

Pangasius prices decreased because of improved supply, plus the demand for raw materials of businesses slowed down because many enterprises gathered enough goods for Christmas and the end of the year, so they lowered the purchase price.

Ministry said that with the current price, farmers still ensure profitability and the market will be favorable for farmers until the end of the year.

The current price of fry fish has also decreased significantly compared to that of the previous month because companies and households have almost imported enough fry fish, so the demand is reduced. Sample prices of 30 fish/kg at 45,000 – 50,000 VND/kg, however, in the near future, it can be reduced sharply to 40,000 – 45,000 VND/kg.