Bankruptcies Plague Vietnam's Seafood Producers With Pangasius Market Oversupplied, Prices Down
SEAFOODNEWS.COM [Vietnam News Summary] January 23, 2015
Many seafood processing companies in southwestern provinces of Vietnam have gone bankrupt, resulting in the instability of the largest aquaculture area of the country.
Ms. Truong Thi Le Khanh, Chair of Vinh Hoan Seafood, one of the 10 richest people in the stock market, said that easy credit had hurt the catfish industry in particular and seafood sector in general.
The overheated development of the seafood processing sector and the anticipation of price increases encouraged many firms to borrow bank loans to breed and process fish for export...
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