High interest rates hit pangasius farmers

High bank interest rates have cut heavily into the profits of tra catfish farmers in the Mekong Delta.

Tra fish prices are VND24,000-25,000 per kilo and VND23,000-24,000 per kilo for white and yellow flesh respectively.

At VND23,000, farmers earn around VND1,300 on a kilogram, or just 6 percent of revenue, while bank interest accounts for 7 percent, said Nguyen Ngoc Hai, head of the Thoi An seafood cooperative in Can Tho.

Tra prices have increased by VND1,000 a week since before Tet, but farmers do not want to feed the fish due to high feed costs and bank rates.

The Mekong Delta has around 5,000 hectares of tra fish farms, including 2,000 hectares in Dong Thap, 1,500 hectares in An Giang, and 1,000 hectares in Can Tho.




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