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The Vietnamese seafood industry is thriving, with the accumulated value of seafood output estimated to reach 6.1 million tons in 2021, up 1.6% compared to the same period last year, according to reports by the Directorate of Fisheries. Overview Vietnam’s seafood industry has been growing steadily, with the accumulated value of seafood output estimated to reach 6.1 million tons in 2021, up 1.6% compared to the same period last year. The country’s Directorate of Fisheries has reported that the industry is on track to meet its annual plan, with 2.9 million tons of exploited species and 3.2 million tons of farmed species. Seafood Output in the Third Quarter In the third quarter of 2021, the total seafood output is estimated to reach 2.3 million tons, with 1 million ton of exploited species and 1.2 million tons of farmed species. This growth is indicative of the positive momentum that the Vietnamese seafood industry has been experiencing. Export Value Vietnam has also been successful in exporting its seafood products. According to statistics by the General Department of Vietnam Customs, the country brought in $373.6 million from exporting seafood in the first half of September, leaving an accumulated export value of $5.6 billion, equal to 96% of the same period last year and reaching 55.8% of the plan ($10 billion). Shrimp Stocking The Vietnamese government has been supporting shrimp farmers by allocating more land for shrimp stocking. As many as 708,436 hectares have been spent on stocking brackish shrimps, equal to 102% compared to the same period last year and reaching 97.1% of the 2020 plan. Pangasius Farming Pangasius farming is another area where the Vietnamese seafood industry has been growing. A total of 2,160 hectares have been newly spent on pangasius farming, equal to 59.7% of the same period last year, leaving the accumulated area of 4,968 hectares, equal to 91% of the same period last year. The accumulated output of pangasius in the first nine months is estimated to reach over 1 million tons, equal to 93.6% compared to the same period last year. Conclusion The Vietnamese seafood industry continues to grow and thrive, thanks to the government’s support and the hard work of seafood farmers and producers. The country’s seafood output has been increasing steadily, and its export value remains strong. Shrimp stocking and pangasius farming are areas of particular growth, indicating that the industry is diversifying its products and adapting to changing market demands.

Pangasius farmers in western provinces of Vietnam have had to endure record-low prices for more than a year. Despite a recent surge in the price of pangasius, many farmers are still recovering from their losses and struggling to make a profit. Rising Prices for Pangasius Pangasius prices have risen over the last two weeks since Chinese consumers started to consume this species. Even though sales to restaurants in the US decreased, consumption in supermarkets increased four-fold. Other markets such as the EU and Southeast Asia started preparing for stockpiles at the end of the year. The prices of pangasius material purchased by companies increased up to 21,000-22,000 dong/kg. Pangasius Farming Costs Some farmers who bought fish fries at cheap prices (around 20,000 dong for 30 count pangasius) and had a production cost of 18,000-19,000 dong/kg were able to earn some profit. However, those who bought fish fries at very high prices (50,000-70,000 dong/kg) suffered losses. Farmers Struggling to Recover Farmer Nguyễn Ngọc Hải, 65, in Ô Môn district of Cần Thơ city, has more than 20 professional pangasius grow-out ponds. Even though selling prices inched up to 2,000-3,000 dong/kg, most farmers like him were “exhausted”. The lowest level in the last ten years lasted over a year, and even processing companies that have been cooperating with local farmers had to narrow their farming area and emptied their ponds to reduce losses. Challenges for Pangasius Cooperatives Nguyễn Tấn Phong, 69, Chairman of the Đại Thắng Cooperative, which has 8ha of farmed pangasius in Ngã Bảy town of Hậu Giang province, harvested two crops per year with a total output of 2,500 tons. But when processing factories refused to buy pangasius, local farmers came to markets to bail out around 500 tons of pangasius for curtailing losses and having money to cover the bank interests. The rest of the fish in ponds were starved, some lost weight to 300-400 gram each. Pangasius Society’s View Dương Nghĩa Quốc, Chairman of Vietnam Pangasius Society, said that it was a good sign when prices of pangasius material in western provinces have risen for the last few days, but the losses due to slump in prices through a year-long period has been a shock to local farmers. In his opinion, in 2018, high demand for exports in the face of few stockpiles caused record-high prices of pangasius material, up to 32,000 dong/kg, leaving such a big profit earned by local farmers. In many areas, farmers replaced gardens and rice fields with pangasius farms, even at some point western provinces had 6,200ha and other places had over 5,000ha on average. Decline in Export Revenue According to VASEP, pangasius is an item experiencing a slump in export revenue. In September, pangasius exports continued to decrease by 14% with revenue reaching $135 million, making the accumulated export value in the first nine months of the year reach around $1 billion, down 28%. Meanwhile, in the first nine months of 2018, pangasius exports reached $1.6 billion, up 24.6%.

The recent heavy rains, floods and the tropical storms no. 6 and 7 have resulted in severe damages to the agricultural production in Vietnam. As per the statistics released by the Office of Central Committee for Natural Disaster Prevention and Control, till October 13, 2020, 870 hectares of rice fields and 5,314 hectares of crops have been flooded, while 3,588 hectares of fisheries have been damaged. The disaster also resulted in the death and washing away of 332,350 cattle. Impact on Quảng Trị Among the affected areas, Quảng Trị was the hardest hit. Nearly 80 hectares of fisheries land were lost due to flooding, with the worst-hit areas being Gio Linh, Triệu Phong and Vĩnh Linh district. In Triệu Phong district, 30 fish farming cages were washed away, and more than 1,233 hectares of crops were flooded, causing irrecoverable damage. In Hướng Hoá mountainous district, 193 hectares of unharvested summer-autumn rice fields were totally damaged. Recovery Measures Local agencies and authorities are actively adopting measures to help farmers settle back and restart their production activities. In particular, they are taking measures to enhance the irrigation system, consolidate embankments and provide financial support to the affected farmers. The goal is to help the farmers recover their production activities as soon as possible, so as to ensure the continuity of the agricultural production in the affected areas.