Vietnam: Pork prices spike before Tet

With just over a month to go until the Lunar New Year 2025, the pork market is witnessing a sharp increase in prices, in contrast to the downward trend last year. This increase is due to high consumer demand while supply is facing difficulties. A survey in Ho Chi Minh City shows that pork prices at retail markets have increased significantly compared to early December. Baby back ribs cost VND180,000-190,000 per kilogram, an increase of VND30,000. Other types of meat such as pork belly and pork butt also increased by VND20,000 and VND10,000 per kilogram, respectively, with prices ranging from VND120,000-160,000. In some areas such as Hoang Hoa Tham market (Tan Binh), lean pork has reached VND220,000 per kilogram. Ms. Hanh, a trader at Xom Moi market, shared that the price of pork at the wholesale market increases every day, making it impossible to keep the old price if she wants to make a profit. She said that she has been trying to maintain the selling price for the past week to ...