Agencies urged to save catfish growers

A meeting held by the Ministry of Agriculture and Rural Development on Monday initially intended to form a preliminary figure on catfish consumption turned out to be an urgent discussion on what should be done to assist catfish growers and exporters in the Mekong Delta provinces. Growers sell catfish in Can Tho Catfish prices have recently dropped to only VND18,000 (USD0.86) a kilogram from its VND25,000 (USD12) peak, creating huge losses for farmers, while fish processors and exporters have also failed to buy any product due to a capital shortage. Duong Thanh Thai, who grows catfish in Dong Thap Province's Thanh Binh District, said the cost price for a kilogram of catfish is currently VND25,000, which means he incurs a VND7,000 (USD0.4) loss on every kilogram of fish he raises. "Feed prices have soared by 40 percent against the same period last year, but I still have to feed the fish every day," he said. "The longer I grow the fish, the bigger the losses I suffer." Meanwhile Tran Van Hung, a catfish tycoon, said businesses have to sell their products at a loss to ease the capital shortage while banks have tightened credit. "Importers know of our hardship so they have repeatedly lowered buying prices," said Hung, who is the chairman of the Hung Ca Co Ltd. "Moreover, at the ongoing Viet Fish seafood exhibition, some firms are offering to export catfish fillet at only USD2.2 a kg, sending prices slumping further." Hung said accessing bank loans is now impossible, as the institutions always ask for collateral. "But this is infeasible as we need to invest VND6-8 billion (USD289,000-383,000) on every hectare of catfish farm," he said. Duong Ngoc Minh, deputy chairman of the Vietnam Association of Seafood Exporters and Processors (VASEP), said the unhealthy competition between some local catfish exporters has exacerbated the situation. "The mess should be cleaned up as soon as possible, otherwise both growers and exporters will fail to survive the problem," he shared. There are some 3,900 hectares of catfish farms in the Mekong Delta provinces, around 1,300 hectares of which will reach harvest time between June and August, with a total production of 400,000 tonnes of fish. Another yield of 700,000 tonnes will also be taken by year-end. Money first The Minister of Agriculture and Rural Development said prices have fallen sharply due to the imbalance between supply and demand. "Supply has outgrown demand while global catfish prices have also slumped, resulting in the domestic price plunges," he said. He urged relevant agencies to quickly assist farmers and businesses. "At first we should ensure that firms have money to buy fish for export," he said, adding that the State Bank of Vietnam has recently ordered banks to extend debts for catfish businesses and creat conditions for them to access loans. The Ministry of Finance has also sought permission from the government for an assistance package worth VND9 trillion (USD430 million) for the catfish sector, he added. The minister also reminded banks to closely monitor their loans to ensure that businesses will not use the money for purposes other than buying catfish. "VASEP should also ask its members to stop dumping prices to maintain Vietnamese catfish's quality and reputation," he ordered. Vietnam tours
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