Vietnam: Ups and downs in pig prices in 2023

In the first 2 months of 2023, the national average pork price fluctuated around 52,000 VND/kg, then dropped below 50,000 VND/kg in March. By early April, pig prices began to recover, increasing sharply. and reached its annual peak in mid-July, at 61,500 VND/kg. That price brings many expectations for both businesses and small livestock farmers. There are units that confidently believe that the price of pigs can reach 65,000 VND/kg, thereby offsetting the gloomy situation in the first 2 quarters of the year. However, that picture did not happen. From the peak in July, the price of pork suddenly dropped, reaching a bottom of 49,100 VND/kg in mid-October. It seemed like it could recover after 2 weeks of increasing the price to over 52,000 VND/kg, but the price of pork then continued to slide. steeply, reaching the bottom of 48,400 VND/kg on December 7, 2023, also the lowest price recorded in the past year. Why did it decline? The decline in pig prices has led to a decline in ...