Tra fish price falls to 10-year low
Tra fish price falls to 10-year low
Tra fish prices in the Mekong Delta region have plunged to VND19,000-VND20,000 per kilogram, the lowest in 10 years, Sai Gon Giai Phong news site reported, citing Duong Nghia Quoc, chairman of the Vietnam Pangasius Association.
Quoc said, on July 5, that the price for tra fish in the region continues its downward spiral, and its consumption is slowing, leading to increasing inventories.
With such a low price, tra fish farmers in An Giang and Dong Thap provinces, as well as Can Tho City, have lost VND3,000-VND5,000 per kilogram.
In the 2017-2018 period, tra fish prices stayed high, recorded at VND35,000-VND37,000 per kilogram in 2018, according to the Vietnam Pangasius Association.
Due to the high price of tra fish two years ago, many localities in the Mekong Delta have increased tra fish farming area this year, while tra fish exports faced multiple difficulties in recent days. The Chinese and U.S. markets reduced their imports of tra fish from Vietnam since early 2019, apart from tra fish oversupplies in the local market, resulting in slumping prices of tra fish.
The relevant departments and agencies, along with the association and enterprises, should boost commercial promotional activities and expand consumer markets, as well as regain growth for tra fish exports to China and the United States as soon as possible to address the falling trend of tra fish prices and minimize farmers’ losses, Quoc said.
