The Directorate of Fisheries said that pangasius exports have recovered, but the supply has not met the demand.
According to the General Department of Fisheries, by the end of 2020, when the pandemic was controlled, the recovery of import markets and the efforts of businesses and fish farmers so the output and turnover of pangasius export had positive change, but the pangasius industry has lack of local supply.
The area for pangasius farming in the Mekong Delta is estimated at 5,700 hectares but has only 1,800 hectares in the current harvest stage, which is considered as the lowest level in the past 4 years. It is forecasted that the supply of pangasius will be difficult to expand to meet the demand in the next 3 to 6 months because farmers have no motivation to expand the farming area or continue to stock.
The representative of the Vietnam Association of Seafood Exporters and Producers (VASEP) shared, the information from consumption sources of pangasius from countries around the world, consumption of service channels such as restaurants and hotels in the US, China, and Europe continued to recover significantly to the pre-outbreak of COVID-19, with more than 70% compared to other consumption channels.
The experts of the pangasius industry analyzed, the main reason is the low price of raw pangasius in late 2019 and early 2020, so the farmers have no motivation to expand farming areas or continue farming.
According to some economists, in the case of low material supply, the price of pangasius will be more positive. Also, with the resonance of free trade agreements, the value of Vietnamese pangasius products circulating in the world market will be higher.