Forecasts indicate that from now until the Lunar New Year, live pig prices will remain around 68.000-72.000 VND/kg, and imported meat into Vietnam will continue to increase sharply, ensuring market demand is met.
Pork prices have been continuously rising recently and are predicted to reach a peak similar to that of 2020, but paradoxically, pig farmers are still suffering.
The continuous decline in pork prices is a result of increased herd expansion, restocking, and the import of some of the pork shortages caused by disease outbreaks.
Retail pork prices at markets and supermarkets have only decreased slightly, meaning consumers have yet to benefit from the drop in live pig prices.
Today, October 15th, live pig prices continued their downward trend in the North and South, while in the Central and Central Highlands regions, prices remained stable compared to the previous day.
In the third quarter of 2020, there was still a shortage of about 200.000 pigs, so pork prices are expected to remain high.
The Department of Animal Husbandry (Ministry of Agriculture and Rural Development) stated that some businesses such as CJ, Hoa Phat, Japfa... have not yet cooperated in reducing the selling price of live pigs.
Pork prices on the market are showing a clear downward trend, just days before authorities are scheduled to import live pigs from Thailand.
The Ministry of Agriculture and Rural Development has just approved a plan to import live pigs for slaughter in order to stabilize prices, given that domestic pork prices are approaching 100.000 VND/kg.
If pork prices continue to remain at such high levels, it will put pressure on inflation in 2020, as pork alone accounts for 4,2% of the monthly CPI calculation.
Despite a 300% increase in pork imports, domestic pork prices in markets and supermarkets have not decreased.
On April 15th, live pig prices in many northern provinces reached 90.000 VND/kg, a price equivalent to that in mid-December 2019 and the highest since the beginning of the year.
Today, live pig prices in Northern Vietnam continue to record a sharp increase, with prices reaching 82.000 VND/kg in many areas.
From vegetables and fruits to chicken and seafood, prices are soaring; most notably, pork prices have doubled in just one month.
Due to conflicting opinions regarding the official document urging teachers to purchase 10kg of pork per month, the People's Committee of Can Loc District, Ha Tinh Province, has directed the education department to withdraw the document.
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