Sturgeon raised at a farm in Lao Cai Province
Tran Duc Sy, a farmer in Ngu Chi Son Commune, has more than 10 tonnes of sturgeon ready for harvest but faces the risk of major losses as prices have collapsed.
“Sturgeon takes three years of continuous care and billions of dong in costs before harvest. Yet for a month I have contacted many traders without success,” he said.
Sy, who has been farming sturgeon for a decade, runs 27 ponds with an annual output of 50 to 60 tonnes. In previous years, traders came from across the country to buy fish at VND 190,000 to 200,000 (approximately USD 7.5 to 7.9) per kilogram, sometimes even exceeding supply.
Since July, the situation has reversed. Prices have fallen to VND 100,000 (approximately USD 3.9) per kilogram, meaning losses of about VND 30,000 per kilogram. Even at a loss, farmers struggle to find buyers.
“Vietnamese sturgeon takes three years to raise, while Chinese fish are ready in 13 to 15 months. Traders say Chinese sturgeon is cheaper, reaching Hanoi at just VND 100,000 a kilo, so they no longer buy from Lao Cai farmers,” Sy explained.
He has invested more than VND 10 billion (approximately USD 394,000) in infrastructure. “The longer we keep the fish, the more we lose. We can't stop feeding them, but growth slows once they reach harvest size,” he said. He has cut feed in half, hoping to hold on until sales improve.
Ngu Chi Son Commune has around 100 households and farms in the same predicament. Sy still owes VND 5 billion (approximately USD 197,000) to the bank. “If this continues, we'll be forced to sell off at a heavy loss,” he added.
Sturgeon farmers in Lao Cai face heavy losses as prices plunge
Pham Thi Mai, another farm owner, said sturgeon farmers are currently losing VND 20,000 to 30,000 per kilogram. She noted that Chinese sturgeon is being sold in Vietnam under the Lao Cai sturgeon label, making it hard for domestic products to compete.
Industry fears collapse
The Lao Cai Cold Water Fish Association has appealed to central ministries, warning that the influx of cheap Chinese sturgeon is driving local farmers to bankruptcy. The re-labelling of imports as Lao Cai sturgeon, it said, had eroded consumer trust.
According to the Directorate of Fisheries, cold water fish farming, mainly sturgeon, has become a key sector in northern mountainous provinces and the Central Highlands after 20 years of development. From 2007 to 2023, production grew by an average of 49.13 per cent per year, placing Vietnam among the world’s top six sturgeon producers.
Authorities have urged stricter monitoring of licensed sturgeon imports and tougher penalties for violations. Farmers have been encouraged to form production chains, improve techniques to reduce costs, and develop a traceable Vietnamese sturgeon brand to strengthen market competitiveness.
