Vietnam Seeks to Sustainably Develop Catfish Farming

Vietnamese analysts from Ministry of Agriculture and Rural Development, relevant bodies and exporters have sought ways for sustainable development of pangasius in Mekong Delta provinces by 2010-2020, a two-day workshop in HCM City heard.

 

Price of pangasius, one of Vietnam&rsquos major seafood export items, has fallen dramatically in recent months, worrying breeders in the Mekong River delta, who have feared for heavy losses during this year&rsquos fishing season if they do not find a long-term solution.

 

Eight Mekong Delta provinces now have around 170,900 tons of fish in stock. To support breeders, the State Bank of Vietnam, the country&rsquos central bank has recently asked commercial banks to continue providing VND1 trillion capital for businesses to purchase the fish and ext the deadline for loan repayments.

 

However, to buy fish, businesses said that they need at least VND2 trillion from banks.

 

Currently, breeders, processing factories, fish food suppliers and banks are at the risk of going bankrupt. Many suppliers are ready to provide credit to processors and breeders to maintain the industry.

 

Measures to assist businesses and breeders are ning to pay off. The pangasius market has bounced back since June 5, with fish prices increasing slightly. Despite suffering losses, breeders are still hopeful about a profi breeding season coming soon.

 

Affiliated companies under the Vietnam Association of Seafood Exporters and Processors (VASEP) have agreed to maintain the floor prices of pangasisu to stabilize the market. (Vietnam & World Economy, VOV)