ASEAN KEY DESTINATIONS
Vietnamese seafood plants struggle
The shortage has resulted in a price increase. Yesterday, tra fish were being sold for more than VND21 million (US$1,000) per tonne, a month-on-month increase of VND5 million ($256).
The cost of shrimp also increased by 15-20 percent compared to a month ago. These increases have forced prices up and many exporters are operating at a loss, struggling to meet contracts that were signed several months ago when the price was lower.
Director of An Giang Fisheries Import and Export Joint Stock Company (Agifish) Nguyen Van Ky said his company had only exported small volumes of seafood recently, and may fail to reach its target of $60 million this year due to the shortage.
VASEP said more and more farmers were becoming less inclined to invest in aquaculture, despite the fact the price of seafood products on the world market was increasing.
Farmers were reluctant to take out loans due to high interest rates of up to 17 per cent on top of the increasing cost of feed, VASEP said.
According to VASEP, the shortage would be difficult to solve in the short term.
Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below