Business
Pork prices continue rocketing
  • | dtinews.vn, TP | May 29, 2020 04:23 PM
Pork prices in Vietnam have kept on increasing, reaching the record high because of local supply shortages.

According to CP Vietnam Livestock Joint Stock Company, by May 27, pig prices rose to VND81,000 (USD3.52) per kilo, VND10,000 higher than that during mid-May. Meanwhile, many other pig breeding companies raised the product price to VND82,000 per kilo.

 

Pork prices in Vietnam have kept on increasing, reaching the record high because of local supply shortages


On May 28, pig prices in many northern localities surged to between VND97,000-105,000 per kilo, including Hung Yen and Thai Binh provinces.

Pork prices have seen the historical peak of from VND170,000-200,000 per kilo, roughly VND10,000 higher than a kilo of pork just a few days ago.

The prices are higher by between VND10,000-70,000 per kilo at supermarkets. Vissan-branded pork products are the most expensive of being even up to VND280,000 per kilo of ribs.

Thu Cuc from Hoang Mai District said that she was quite shocked to see the sharp rise in pork prices recently. Her family has reduced the pork use to save the daily expenditure and turned into other kinds of foodstuff.

Under the government’s instruction, on April 1, 15 large livestock companies pledged to cut pig prices around VND60,000-65,000 by the end of the second and third quarter of this year. However, the target has failed.

According to the Ministry of Agriculture and Rural Development, since the beginning of the year, African swine fever has resurfaced in 155 communes of 20 cities and provinces, causing nearly 4,000 pigs to be culled.

This has seriously slowed down the livestock to increase which is expected to help ease the domestic market’s pork deficiency by the end of this year.

Buying piglets of unclear origin to raise has been among the major reasons for the reoccurrence of African swine fever.

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

The country witnessed an on-year rise of 300% in pork imports between January and mid-May.

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