Catfish exports to China plummet

Since September Chinese demand for the fish has not increased much even as it has stepped up imports from Norway, South Korea, Australia, and Chile.

The director of a pangasius export company in southern An Giang Province told VnExpress that demand from Chinese hotels and restaurants for the catfish is low now.

Chinese consumers prefer fresh seafood over frozen products.

Besides difficulties in exporting, Vietnamese pangasius firms are also facing high input and farming costs.

According to data from catfish exporters, farmers’ production costs are now VND26,500-27,000 (over US$1.1) per kilogram while their selling price is VND300-500 lower.

The average export price is $2.5-2.6 per kilogram, down from $3.2 a year ago.

"We are trying to sustain production, but this year profits have dropped sharply," the export company director said.

According to VASEP, demand for Vietnamese pangasius will increase again in the fourth quarter, the peak season in China.

Source: VNExpress