Skyrocketing Pangasius (Basa) Prices in Vietnam May Mean an Increase in Chinese Tilapia Prices
SEAFOODNEWS.COM [SeafoodNews] by Amy Zhong - February 27, 2017
The EU reduced catfish imports from Vietnam in 2016 and the U.S. issued policies to also restrict their imports. As a result, China has become Vietnam’s most important buyer. Many insiders assumed that the basa (catfish) prices would decline after the Chinese New Year, but prices skyrocketed by around 20%.
The farm gate price of Vietnam’s basa catfish has increased by US$0.2 per kilo, said Leon, general manager for Shanghai Sintun Industrial. Sourcing basa has become difficult. The fish produces processed fillets that can reach 300-400g each.
Costs increase by about 15 yuan for a carton of basa fillets after Chinese customs clearance in Shanghai. The CIF Shanghai was US$1.9 for basa fillets with 10% ice this January which rose to around US$2.15 to US$2.2 earlier this month, after the holiday...
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