Pangasius fish breeders in the Mekong Delta are currently facing huge losses of VND1 billion (US$48,000) per hectare, according to Duong Van The, deputy head of Directorate of Fisheries.
The fish breeders are now losing VND3,000 on each kilogram of pangasius fish, which now fetches only VND22,000-23,000 a kilogram.
Several businesses have had to reduce the price, in a bid to sell and recover part capital. A kilogram of pangasius fillet exported to the European market has dropped from US$3 to only $2.6 a kilogram.
The Mekong Delta Association of Seafood Exporters and Producers said that fish breeders and businesses now need VND20 trillion ($952 million) to recover and develop production. However they are finding it hard to access sufficient capital.