Price of pigs dropping as supply mounts

August 31, 2020 | 20:47
The price of pigs has been dropping thanks to the increase of pigs imported from Thailand and the local supply.
price of pigs dropping as supply mounts
The price of pigs slips on decrease momentum

In the past week, the price of pigs dropped VND15,000-18,000 (65-78 US cents) to VND77,000-83,000 ($3.35-3.60) per kg. Prices were the lowest in the central region with VND77,000-79,000 ($3.35) per kg.

According to the Ministry of Agriculture and Rural Development (MARD), in the first seven months of this year, 130 local businesses imported 93,248 tonnes of pork, up 223 per cent on-year. Almost all of these products are imported from Canada, Germany, Poland, and the United States, among others.

In addition, in the period between June 12 – when pigs from Thailand were allowed to be imported into Vietnam – and August 12, 40 Vietnamese enterprises registered for import quarantine. In reality, 97,338 units of which are imported to Vietnam. The price of imported pigs remains VND80,000-83,000 ($3.48-3.60) per kg.

The MARD's Department of Livestock Production reported that as of the end of June, Vietnam had a total of 25.18 million pigs, equalling 81.9 per cent of the pig population before the African swine fever broke out.

According to the report of 16 livestock companies, as of July, these companies raised 4.88 million pigs, up 52.8 per cent compared to the figure in January 2019. The figure is expected to increase to 5.17 million by the end of the third quarter, and 5.36 million by the end of the year.

C.P. Vietnam alone raised 2.7 million pigs by the end of July, up 200,000 units compared to January. C.P. Vietnam owns the largest pig herds in the country, while CJ has 756,000 pigs, Japfa 276,000 pigs, and Mavin 341,000.

By Kim Oanh

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional