Vietnam: Low fish prices but high fish feed costs push fish farmers out

//18 May 2012 In Vietnam the price farmers are getting for their fish has been falling, if they can sell it at all, while the fish feed prices remain high. Causing concern for local fish farmers. Currently farmers stand to lose 4,000 dong (0.15 euro) for each kilo of fish sold. The prices of fish feed vary slightly between 12,000 to 13,000 dong (0.45 – 0.49 euro cents) per kilo and, on average, for one kilo of fish, two kilos of feed are needed. Even when they are willing to sell at a loss, not everyone is lucky enough to find a retailer willing to buy their fish. Most fish farmers in Tien Giang provence are currently stuck with their mature fish with no prospective buyer in sight. While waiting for the fish market to recover, they have to mix water-hyacinth and other weeds with fish feed to cut costs. Many fish farmers said the feed suppliers were previously willing to accept late payment plans for their feed but now are switching to “cash on delivery” method - cash first, feed after. This has pushed fish farmers more deeply into hardship since very few fish farmers have enough ready cash to pay for the feed, given the initial high investments costs in the fish farming business. Forcing many out of business.