In April and May 2024, the farm-gate prices of pangasius and pangasius fingerlings were stable. However, prices may rise due to short supply if farmers hesitate to restock.
As of mid-May 2024, the price of farm-gate pangasius in the Mekong Delta region fluctuated between VND 27,500 and 28,000 per kilogram. Farmers and businesses are adjusting their production to meet export demand.
Earlier this year, the farm-gate price of small pangasius (800-1,200 grams) increased by 4%, while prices for sizes of 1,200 grams and larger rose by 7%. The higher demand, driven by concerns about short supply for consumption during and after the Lunar New Year holiday, pushed up prices for both raw and fingerling pangasius. In February 2024, the price of pangasius fingerlings continued to rise by 2%, as farm-gate prices of pangasius increased after the Lunar New Year, leading to higher demand for fingerlings. Nevertheless, by the end of February 2024, the supply of pangasius fingerlings remained limited with high stocking loss rates.
Larger fish are particularly favored by the Chinese market. In the 19th week, the price of pangasius over 1,200 grams stood at VND 27,615 per kilogram; the price for smaller sizes (800-1,000 grams) stabilized at approximately VND 27,010 per kilogram; and prices for sizes between 1,000 and 1,200 grams increased in the 18th week, reaching VND 27,250 per kilogram.
In April 2024, the price of raw pangasius continued to decrease by 0.3% to 3%, as the purchasing pace of large enterprises remained relatively slow and external farms bought at a limited amount. Small processing enterprises also purchased raw materials at low prices and closed early for holidays in April.
In contrast to China, the U.S. and EU markets consume more raw pangasius of 800-1,000 grams. The price of 100% net weight pangasius fillets meeting EU export standards was at USD 2.7 per kilogram.
The price of fingerlings decreased by 7% in April 2024, and reached VND 25,700 per kilogram for 30 fish per kilogram in the 19th week (May 4-10, 2024).
Farmers are hesitant to restock, which could lead to a short supply of raw materials by the end of August or September this year. This is significantly attributed to higher input costs compared to previous years and the farm-gate price drop in March 2024, which also led to reduced profits. However, raw pangasius prices may recover this year thanks to strong demand from China, the U.S., the EU, and other markets as inventories have decreased, and the supply of other white fish like tilapia is also becoming scarce.
VFM
