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On January 19, first-class tra and basa were sold at VND16,000 per kilo, the highest price in the history of catfish farming in the Cuu Long River Delta. The overly high demand has pushed fish prices up.
Farmers in An Giang province said that tra prices fluctuated at the end of 2005 and in early 2006, and farmers dared not expand their farming scope for fear that prices would go down. As a result, the supplies are short, and the prices keep skyrocketing.
Many farmers have shifted to farm other fresh water fish to sell domestically because this farming can bring higher economic efficiency thanks to stabilised outlets and selling prices.
As tra and basa supplies are seriously short, seafood companies now have to purchase fish of smaller sizes to fulfil orders.
According to Nguyen Van Thanh, Director of the An Giang Seafood Department, there are two reasons for the price increases.
Source: VietNam Bridge