A mass of small-scale aquatic products processing factories in the Mekong Delta have closed down due to losses and a shortage of raw materials.
Large-scale factories have reduced their production capacity by 50 percent.
Nguyen Van Dao, director of Go Dang Seafood Joint Stock Company in Tien Giang Province, said due to a shortage of fish supplies and low export prices, enterprises have to close down or reduce their production capacity to avoid losses.
Due to the shortage, the price of tra catfish has soared in the region, with a kilogram fetching VND18,000-18,200 (US$0.8-0.81) on October 24, highest since 2008.
Though the price skyrocketed, farmers haven’t had fish to sell.
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