Prices of fresh Vietnamese tra, a catfish relative, have surged in recent days to 94 cents a kilogram, up from 82 cents in early August.
Vietnamese processors are rushing to meet increasing tra demand as markets for the fish are expanding to Russia, Eastern Europe and the Middle East. However, according to news reports, most growers fear losses and are not increasing production.
Duong Ngoc Minh, general director of the Tien Giang Province-based Hung Vuong Corp., which accounts for about 10 percent of the country's seafood exports, told reporters that there has been a 40 percent drop in production since May.
Farmers have been offered up to 97 cents per kilogram and even more for future purchases in fear of dire shortages in the days to come. Bui Huu Tri, chairman of the Can Tho Fisheries Association, told the Vietnam News Agency that the current price of fish is still lower than the cost of production.
