Low Market Prices
The market price of tilapia has changed drastically over the past few years. In 2009, the market price of 500-g live tilapia from farmers dropped to only 7 yuan/kg (U.S. $0.16/kg). In response, many tilapia farmers began to stock carp or other species instead of tilapia. The culture area in Guangdong, Guangxi, Hainan and Fujian Provinces also declined.
In early 2011, market prices reached 10 yuan/kg, but the situation was still marginal for farmers. Among the tilapia farms visited just after the first harvest, a small number were considering restocking with another species. In 2011, integrated farms were more resilient, with profits from pigs compensating to some extent for the loss from tilapia. But for farmers raising tilapia as stand-alone enterprises, an estimated 50% suffered a loss.
Escalating Costs
Costs for labor, feed, chemicals and infrastructure have greatly increased in recent years. Labor rates have escalated by at least 50% over the last three years. Other key input prices have also increased substantially (see Table 1). With the high costs and low market prices, many farmers are losing their confidence in tilapia farming.
Processors in China have taken a double hit in recent years. Just as the cost of labor has increased dramatically, currency exchange rates have also inflicted pressure. The value of China’s yuan renminbi increased to the U.S. dollar by nearly 7% from 2009 to 2011.
According to Vietnam Customs, the export of value-added pangasius in the first eight months of 2024 has been evaluated as quite positive, with continuous growth in many major markets such as the United States, CPTPP, and the Netherlands...
(seafood.vasep.com.vn) The Department of Fisheries of Ca Mau province coordinated with the School of Fisheries under Can Tho University to organize training courses on high-tech shrimp farming for 120 people in processors, cooperatives and families that are raising intensive and super-intensive shrimp in the province.
(seafood.vasep.com.vn) Currently, Soc Trang province plans to expand its shrimp farming area from over 50,000 hectares to 57,000 hectares by 2025, aiming for a production of 233,800 tons and maintaining a $1 billion export value. The project will establish 45 climate-resilient shrimp farming models and ensure all farms meet aquaculture standards for traceability.
(seafood.vasep.com.vn) In July 2024, Vietnam's fish cake and surimi exports declined. The export value reached just over 24 million USD, down 3% over the same period. In the first 7 months of 2024, the cumulative export of this product group reached 152 million USD, down 13%.
(seafood.vasep.com.vn) Dong Thap is a key region for pangasius farming, boasting the largest production in the Mekong Delta. In the first seven months of 2024, the estimated aquaculture area reached 4,778 hectares, with a harvest yield of 307,336 tons. Of this, the intensive pangasius farming area covered 2,042 hectares, with a harvest of 252,670 tons.
(seafood.vasep.com.vn) According to Vietnam Customs, in the first half of August 2024, Vietnam's pangasius exports to the EU reached nearly 8 million USD, up 57% over the same period. Cumulative pangasius exports to this market as of August 15, 2024, reached 107 million USD, up 0.5% over the same period last year.
(seafood.vasep.com.vn) The Board of Directors of International Development & Investment Corporation (IDI) is confident of completing this year's profit plan in the context of gradually recovering demand for pangasius in China and Mexico.
(seafood.vasep.com.vn) Some farmers in Soc Trang province have successfully applied a balanced biological shrimp farming technique, which eliminates the use of chemicals to minimize environmental impacts. This is a model of farming that adapts to climate change.
8 finalists have been named in the best new seafood product competition to be awarded at Seafood Expo Asia, taking place 4 to 6 September at the Sands Expo and Convention Centre in Singapore.
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