Vietnam: Despite suspending the import of live pigs from Thailand, domestic live hog prices still fall

Published 2021년 7월 14일

Tridge summary

The article highlights the decrease in pig prices in Vietnam, which is attributed to the recovery of the pig herd and reduced consumer demand due to the Covid-19 pandemic. The price drop is observed across all regions, despite the temporary ban on importing live pigs from Thailand. The low pig prices in conjunction with high breeder prices and increasing feed prices are posing challenges for livestock farmers. However, businesses that can earn profits at various stages of the process, such as seed production, feed, and slaughter, are faring better. The article also mentions the competition from imported meat products and forecasts a potential further decrease in pig prices to 55,000 - 56,000 VND/kg. Additionally, it notes the significant increase in pork imports, particularly from Russia, in the first five months of 2021.

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

Original content

The decrease in pig prices is a result of the recovery of the pig herd and a decrease in consumer demand due to the Covid-19 epidemic, which has caused low consumption in many restaurants and hotels. Live hog prices in the domestic market continue to trend down. In particular, since the beginning of July until now, the price of live hogs has still decreased despite the temporary suspension of importing live pigs from Thailand for slaughter for food from June 30. According to Mavin Group Joint Stock Company, last week's hog price fell deeply in all three regions with a decrease of 2,000 - 4,000 VND/kg compared to July 1. In the northern hog market, the purchase price ranges from 60,000 to 62,000 VND/kg. In the Central region, the price of live hogs ranges from 60,000 to 62,000 VND/kg. In the South, live hog prices fell sharply in many provinces, trading from 54,000 to 60,000 VND/kg. Deputy Director of the Department of Livestock Production Tong Xuan Chinh assessed that ...

Source: Vinanet