Typhoon Yagi inflicts $100 million loss on Vietnam’s aquaculture

Experts are recommending a shift to seaweed farming, a cost-effective alternative that requires minimal input.

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Several localities in the Red River Delta are to face inundation over the next days as flood water levels in Northern mountainous provinces remain high. Credits: Vietnam Government News

September 25, 2024

Typhoon Yagi caused over VND 2,500 billion (USD 100 million) in losses for aquaculture farmers in Vietnam, according to local news.

At a conference held on September 21 to address post-storm recovery efforts, Deputy Minister of Agriculture and Rural Development Phung Duc Tien emphasized the severe impact the storm had on aquaculture and livestock farming, two of the fastest-growing sectors in Vietnam’s agriculture industry.

Aquaculture farmers in the northern provinces from Quang Ninh to Nghe An reported damage to over 23,500 hectares of fish farms, with 4,592 fish cages and nets destroyed.

Additionally, initial assessments show that the storm and subsequent flooding caused the deaths of 22,808 livestock animals and over 3 million poultry across five heavily affected provinces: Hai Phong, Quang Ninh, Yen Bai, Hanoi, and Thai Nguyen.

In response to the significant losses, leaders from the Livestock Production and Fisheries Departments proposed measures to help farmers recover, including postponing debt payments and providing support to rebuild production. One of the most promising suggestions came from Do Linh Phuong, CEO of DBLP, who recommended that affected farmers pivot to seaweed farming.

Phuong explained that many farmers have lost nearly everything and lack the capital to resume aquaculture. Seaweed farming, however, requires minimal upfront costs and doesn’t involve feeding the seaweed, making it a practical alternative.

To help farmers rebuild, the Ministry of Agriculture and Rural Development has mobilized nearly VND 85 billion for the fisheries sector, VND 79 billion for livestock, and VND 2.4 billion for veterinary services from various businesses and organizations.

Deputy Minister Phung Duc Tien assured that these resources would be distributed transparently and effectively to ensure that those in need receive the necessary support. He stressed that with the collective efforts of government agencies, businesses, and farmers, the agriculture sector, particularly aquaculture and livestock, will recover swiftly.