Business
Pork prices reach record high
  • | dtinews.vn, VietnamNet | May 19, 2020 03:26 PM
Pork prices in Vietnam have reached the record high due to local supply shortages.

Tran Van Toan in the northern province of Hung Yen’s Khoai Chau District who is the owner of a 1,000-pig farm, said that he has received a lot of calls from traders these days. He plans to sell the pigs early next month.

  

Pork prices in Vietnam have reached the record high due to local supply shortages.


At the beginning of this month, he sold nearly 200 pigs at VND94,000 (USD4.08) per kilo, but now the figure has increased to VND98,000.

A pig breeder over the past 20 years, this is the highest price hike Toan has ever seen. He forecasted that the price would be VND100,000 per kilo of pig in some days to come.

So far this year, he has sold around 600 pigs, earning a quite big profit. He has invested in another farm to raise pigs.

According to a representative from a wholesale market in the northern province of Ha Nam, pork prices in the market have tended to be on the rise recently, while the supply sources have fallen. On Sunday, a kilo of pig was sold at VND95,0000-97,000, he said.

Meanwhile, pig prices in the central and southern region have also risen to between VND88,000 and VND97,000 per kilo.

Nguyen Kim Doan, deputy head of Dong Nai Livestock Association, said that the price in Dong Nai is up to 97,000 per kilo, the record high so far.

In 2011, the Vietnamese pig raising sector was affected by blue ear and hand-foot-mouth diseases, causing the live pig prices to sharply rise to VND60,000 per kilo. However, the price hike was brought under control just around one week later.

At markets in Hanoi, one kilo costs between VND165,000-250,000. The price is higher at local supermarkets.

Deputy Minister of Industry and Trade Do Thang Hai said that the local market has seen a pork shortage of around 20% following African Swine Fever last year. The best solutions are increased livestock and imports.

However, it will take time for the number of livestock to increase which is expected to help ease the domestic market’s pork deficiency by the end of this year.

In the first four months of this year, localities have ensured around 80% of the set population target.

Since early this year, Vietnam has witnessed an on-year rise of 300% in pork imports.

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