The difficult situation of the pig industry in Vietnam

Published 2022년 6월 19일

Tridge summary

The pig industry in Vietnam is under pressure due to a significant increase in feed prices, while live hog prices have only slightly increased or remained the same. The price of key feed ingredients, corn, wheat, and soybean, has risen by 20%, 56%, and 22% respectively compared to the previous year, primarily due to trade disruptions from the Russia-Ukraine conflict and India's temporary ban on wheat exports. As a result, animal feed businesses have increased prices, leading to a trade deficit for Vietnam. Meanwhile, live hog prices in the North have seen a slight increase, while the South has seen no change or a slight decrease. The Dong Nai Livestock Association plans to gather more information from the Ha Nam wholesale market to understand the current situation and develop solutions.

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

Original content

The pig industry is facing the pressure of increasing feed prices, while live hog prices have only increased slightly or stayed flat, and even decreased in some places compared to May. A recent report of VNDirect mentioned corn, soybean, and wheat as important ingredients in animal feed and accounted for 55%, 25% and 10% respectively. According to Trading Economics, the price of feed ingredients has increased. Corn price on June 17 was 7.8 USD/bushel, up 20% over the same period last year. The price of wheat was 10.3 USD/bushel, soybean was 17 USD/bushel, 56% and 22% higher respectively compared to the same period in 2021. The reason for the continuous increase in the price of raw materials for animal feed production is partly due to the disruption of trade due to the conflict between Russia and Ukraine. Besides, on May 13, India, the world's second largest wheat producer, announced a temporary ban on wheat exports to ensure domestic food supply. Preliminary statistics of the ...

Source: CafeF