Pangasius, also called Panga or Basa, is an aquaculture product. For this reason, it is available all year round, although, in contrast with similar products such as Tilapia or Clams, its price trend is not that regular.
Similar to other types of fish, the price trend is influenced by numerous variables: climate, production, demand, etc. During the summer, due to the monsoon season in Southeast Asia, productions are usually affected. Therefore, in September Pangasius’ price rise due to the lack of raw materials. This dynamic usually continues until the Vietnamese New Year because, as in China, this holiday implies a stop in productive activity.
Although until now the price trend had been more or less regular, this 2021 it changed a bit. The value of the product rose at the beginning of the year, as predicted. Even so, and after a notable increase, prices stagnated because the main market, China, applied harsh import restrictions. This caused the plants to have extra stock, so prices were stable from the first quarter until the end of the summer.
However, a Covid-19 outbreak forced Vietnam into a new lockdown that has lasted between two and three months depending on the area. The majority of plants stopped their activity and, in consequence, the supply decreased again. Fillets, steaks or HG stopped being produced, but the activity with the Pangasius larvae and fish had to continue. This mismatch has caused the animals to grow bigger than usual, so the currently available raw material is mainly large sizes.
Now, in the middle of autumn and with the Vietnamese New Year on the horizon, the demand for Pangasius has increased, but, due to the aforementioned, there is not enough supply and prices are rising –the outlook is that they will continue to increase until February–. Importers of this aquaculture product should also take into account that the cost of maritime freight has also increased, and everything indicates that it will continue to do so until, at least, the end of the year.
Here are some charts to illustrate the Pangasius price trend:
As you can see from the photos, the price of Pangasius rose at the beginning of the year and, although it stabilized during the summer months, it is now rising again. In addition, forecasts suggest that they will continue to do so.
From EASYFISH we recommend reviewing the needs and planning a shipping program from now on to be able to buy the products that are needed as soon as possible. Easyfish Group
From EASYFISH we recommend reviewing the needs and planning a shipping program from now on to be able to buy the products that are needed as soon as possible. This can prevent an extra cost in the coming months, since, as we have explained, both the price of Pangasius and maritime freight will not stop increasing!