South Vina: Raw pangasius prices lagging export

 At present, the raw pangasius prices reached the highest level. In Mekong Delta, raw pangasius hit the peak of VND28,000 per kilogram. “It was the highest price than ever before”, Duong Viet Thang, Deputy Director of Southern Fishery Industries Company (South Vina) said.

Farmers in Mekong Delta did not continue to raise pangasius, causing the dramatic fall in harvested pangasius volume and the raw materials price is too high. This year, South Vina does not try to raise its export value. In this difficult situation, the company needs to concentrate on short-term contracts to preserve capital and ensuring livelihoods for its workers, Mr Thang added.
In first two months of 2011, South Vina exported 1,000 finished products per month. In March 2011, its pangasius exports were only over 700 MT, valued US$1.9 million.

It was difficult to reach the 2011 profit target while bank loan rate was sharply higher, all input costs were increasing day-by-day, but there was still no rise in pangasius export prices, South Vina shared.

Though South Vina predicted the lack of raw pangasius in 2011 and invested in raising pangasius in its own farms, the production failed to satisfy 100 percent of plant capacity.

However, at present, South Vina has no plan to widen more pangasius farms. In fact, the pangasius mass in 2008 led South Vina and other companies to seriously consider its raw pangasius supply.

Source: Pangasius Vietnam

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