The selling price of pigs plunged to VND84,000 ($3.6) per kg to better align with the price of imports from Thailand.
|The local price of pigs has dropped due to imports from Thailand |
According to a report published by the Import Export Department under the Ministry of Industry and Trade, in June, the price of pigs in the local market decreased to better compete with imported pigs.
Notably, in the northern region, the price stands at VND85,000-91,000 ($3.70-3.96) per kg, while in the central region it is VND84,000-88,000 ($3.65-$3.80) and VND85,000-88,000 in ($3.70-3.80) the southern region.
The department forecast that prices will continue to decline in the coming weeks as pig imports from Thailand increase. These imported pigs fetch VND81,000 – 82,000 ($3.52-3.56) per kg.
According to statistics published by the Ministry of Agriculture and Rural Development, as of now, enterprises registered to legally import 800,000 pigs from Thailand.
Although the African swine fever is now under control and the pig herds are being repopulated, local supply still falls short of demand. Besides, repopulation progresses quite slowly because the price of breeding pigs has been soaring and farming households' concerns of another ASF outbreak.
The total pig population across the country decreased by 7.5 per cent on-year in June and the pork output reached 1.6 million tonnes, down 8.8 per cent.
According to the Department of Animal Health under the Ministry of Agriculture and Rural Development, eight registered Vietnamese businesses are eligible to import live pigs from Thailand with the estimated number of more than 1.9 million animals.
The ministry had given the green light to the import of live pigs from Thailand for farming and slaughter starting from June 12.