Vietnamese pig farmers are losing more than 1 million VND/head

Published 2021년 10월 26일

Tridge summary

Pig farmers in Vietnam, including Ms. Ban, are facing significant financial losses due to the combined effects of oversupply and high input costs, with pigs selling for only 45,000 VND/kg, compared to breeding costs of 2.5 million VND/head. The situation is worsened by the decrease in pork demand and consumption, a result of COVID-19-induced restrictions. The Ministry of Agriculture and Rural Development is working towards balancing food supply and demand in major areas. This global dilemma is also impacting farmers in the EU and US, with China's pig population decreasing and pork prices dropping by 65% year-on-year, leading to mass pig sales. The EU's pork industry relies heavily on China, resulting in oversupply and plummeting export prices. Meanwhile, the US pork industry is experiencing growth, with 75.4 million pigs as of September 1, 2021.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The barn has nearly 20 pigs to the litter, but if sold, Mrs. Ban (Thuong Tin district, Hanoi) will lose about 1 million VND/head, not to mention the care and use of the family's bran. Ms. Ban is facing the risk of not having money to invest in new breeding pigs, and also doubts that the price of pigs before Tet will increase. "Traders only pay about 45,000 VND/kg of live hog, while the cost of breeding pigs is 2.5 million VND/head, the cost of food is more than 3 million VND. A 1 quintal pig can be sold for 4.5 million VND. , I lost 1 million, so I decided to keep more," said Ms. Ban. The high price of input materials (mainly animal feed) and oversupply are the main reasons for the sharp drop in hog prices in the markets since the beginning of the year. Not only Vietnam, farmers in regions such as EU, US, China... are also facing this difficulty. Domestically, data from the General Statistics Office shows that the country's total pig herd as of early October is over 28 million ...

Source: Vietstock