Vietnam: Supply increased sharply, prices of pork and feathered chickens sank to the bottom

Published 2023년 3월 14일

Tridge summary

Vietnam is currently facing a decrease in live hog and poultry prices due to low consumption and an oversupply in the market. The prices have reached their lowest in the past year, causing farmers and breeders to suffer significant losses. The situation is expected to persist until the economy recovers in the later quarters of 2023. In the meanwhile, the cost of animal feed, a significant expense for farmers, remains high. Despite these challenges, the livestock industry is projected to see growth in 2023, with a notable increase in the production of live meat. Additionally, Vietnam's development of a vaccine for African swine fever and the potential decrease in global prices of raw materials for animal feed could positively impact the industry. The government has advised farmers to reduce their herds to mitigate losses during these difficult times.

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

Original content

Information from the Ministry of Agriculture and Rural Development, in February, the "price of live hogs" across the country decreased due to low consumption, while the supply was abundant. Specifically, in the North, live pigs for slaughter decreased to 49,000-51,000 VND/kg; Central and Central Highlands ranges from 48,000-53,000 VND/kg; while the South is at 51,000-53,000 VND/kg. Report of PV. VietNamNet, live hog prices in the first days of March continued their downward trend to the lowest level within the past 1 year. Mr. Nguyen Cong Bac, Director of Loc Phat Breeding Joint Stock Company BLLT, said that in Son La area, the pig price was higher than on March 13 at 47,000-48,000 VND/kg. This price makes farmers lose about 1 million VND when selling 1 pig. In other localities, the price of live hog fluctuates between 46,000-52,000 VND/kg. In which, Yen Bai and Lao Cai are the two provinces that recorded the lowest hog price in the country, while Ho Chi Minh City and Ca Mau ...

Source: Industry and Consumption Newspaper