After stabilizing for two months earlier this year, the farm-gate prices of pangasius fingerlings and raw pangasius decreased in March.
In January 2024, the farm-gate price of pangasius increased due to high demand during the Tet holiday. In February 2024 when the holiday season ended, prices of pangasius fingerlings and farm-gate prices of raw pangasius continued to rise, mainly due to concerns about the short supply.
In January 2024, the farm-gate price of pangasius, 800-1,200g/pc, rose by 4%, while the price of those more than 1,200g increased by 7%.
In February 2024, the price of pangasius fingerlings continued to rise by 2%, as the farm-gate price of raw pangasius increased after the Lunar New Year holiday, leading to high demand for fingerlings. In late February, pangasius fingerlings remained in short supply, with a high rate of stocking loss.
Pangasius weighing 1 kg – 1.2 kg and above 1.2 kg are usually preferred by the Chinese market. In week 8/2024 (February 19-25, 2024), the price of such pangasius was below 30,000 VND/kg, the highest level since early 2023.
In February 2024, the harvest of pangasius declined by 43% from January 2024, down to 72,000 tons. In week 8/2024 (February 19-25, 2024), the price of fingerlings reached the highest level since 2023, at 37,780 VND/kg for the 30 count fish.
However, right in March 2024, prices decreased by 27% to 27,585 VND/kg, equivalent to the end of 2023. That was attributed to the decrease in the selling price of raw fish, leading to lower demand for fingerlings among businesses and farmers. Most other input costs are currently much higher than in previous years, and the decrease in farm-gate prices in March 2024 resulted in lower profits.
According to the Vietnam Customs, in the first half of March 2024, Vietnam’s pangasius exports reached 74 million USD, down 18% compared to the same period last year. Cumulative pangasius exports up to March 15, 2024 declined slightly by 0.05% and reached over 329 million USD.
VFM
