Production of pangasius in Vietnam hit an all-time high in 2019 following the rapid expansion of farming areas last year.
The world’s largest pangasius producer produced an estimated 1.52 million metric tons (MT) in 2019, rising 6.9 percent from 2018, according to data from the General Statistics Office (GSO) released 27 December.
Nevertheless, Vietnam's pangasius output increased in 2019 on a year-on-year basis despite a slump in prices compared to 2018. An extensive expansion of farming areas through 2018 and the first quarter of 2019, when prices soared, was credited for the increase in production, the GSO said.
As of 21 September, 2019, Vietnam had 5,703 hectares of pangasius aquaculture, an increase of 1,553 hectares, or 37.4 percent higher than the same period in 2018, Vietnam’s General Department of Fisheries said.
The Food and Agriculture Organization (FAO) had also forecasted in early December 2019 that the production of pangasius in Vietnam will reach a record high in 2019, following heavy investment and expansion across the Mekong Delta in 2018.
In 2019, prices of pangasius fell sharply in Vietnam, negatively affecting the country’s farmers and exporters. Material prices of pangasius in Mekong Delta in Vietnam dropped dramatically in December 2019 due to oversupply issues, the Vietnam Industry and Trade Information Center (VITIC) said. Actual selling rates have been lower than production costs for the past several months, incurring losses for local farmers, it said.
While it costs around VND 20,000 (USD 0.86, EUR 0.77) to farm a kilogram of pangasius with a size of 700 grams to 800 grams, it was selling at a price of VND 19,500 (USD 0.84, EUR 0.75) per kilogram in Can Tho City in early December, down VND 10,000 (USD 0.43, EUR 0.37) per kilogram from a year earlier.
The country’s pangasius exports were also hit hard due to weak demand from major markets – except China – with total export value in the first 11 months reaching USD 1.81 billion (EUR 1.63 billion), down 11 percent year-on-year, Vietnam Association of Seafood Exporters and Producers (VASEP) said.
Photo courtesy of Wisarut Pumipak/Shutterstock
