Pangasius price surge: Maximizing profit amidst market risks and rising costs

The price increase in this period has allowed farmers to make considerable profits. On average, fishermen earn from 3,500 to 4,000 VND per kilogram (depending on farming techniques). Currently, businesses and traders are seeking to purchase two sizes of Pangasius (fish over 1 kg and fish under 1 kg). Fish weighing over 1 kg are being traded at prices ranging from 32,000 to 33,000 VND per kilogram (depending on payment methods). Fish weighing under 1 kg have a price fluctuating around 31,500 VND per kilogram. This is the highest price in the past 3 years. The price increase has helped farmers avoid the losses they experienced in the early months of 2024.

While the strong price increase brings many opportunities, it also comes with considerable challenges. This has led to a rise in feed prices and other input costs, which can reduce farmers’ profits if they don’t have effective cost control measures in place. Additionally, it increases the risk associated with the market, as both price increases and decreases are influenced by many factors, such as supply and demand, export markets, production costs, product quality, weather, climate change, and competition from alternative products.

Pangasius farming and export processing is a strength of the Mekong Delta provinces. In 2024, the total area for Pangasius farming in the region is estimated to reach 5,370 hectares, with an estimated harvest of 1.67 million tons of Pangasius, equivalent to 99% of the harvest in the same period of 2023. The provinces with the highest farming output include Dong Thap, An Giang, Can Tho, Ben Tre, and Vinh Long. Specifically, An Giang has a farming area of 1,800 hectares.

Currently, with prices on the rise, farmers need to take advantage of this opportunity to optimize profits while focusing on cost management, applying advanced technical measures to improve productivity and product quality. Businesses should focus on building brands, enhancing product quality, and expanding export markets to maximize competitive advantages. Both farmers and businesses need to actively monitor market information, forecast price trends, and adjust their production and business plans accordingly.

Source: https://seafood.vasep.com.vn/