Stabilising pork prices

by NDO09 December 2019 Last updated at 16:46 PM - Vietnam’s total pig herd was estimated at 25 million pigs, including 2.7 million sows, the Ministry of Agriculture and Rural Development said at the Government’s regular meeting in November.

About 85% of communes in 14 provinces across the country have reported no case of African swine fever (ASF) in the past 30 days and the entirety of Hung Yen province has announced the end of the epidemic.

This provides a good opportunity for localities to rebuild herds with high quality breeding pigs. This year, Vietnam saw a 13.5% year-on-year increase in poultry meat and a 4.2% increase in buffalo meet and beef, in addition to increases in the output of goat meat, hogget, and eggs, which can compensate for the shortage of pork.

However, the demand for pork will soar rapidly by the end of this year and the country is expected to face a 200,000-tonne shortage of pork, pushing up pork prices.

The current price of live pigs is nearly double compared to February 2019 when the ASF outbreak began. The prices are anticipated to climb higher when the Lunar New Year 2020 is approaching.

Without price stabilisation measures, price hikes may disrupt the pork market, causing losses to farms and consumers.

In addition to increasing the supply of other foods such as seafood, eggs, milk, poultry, and livestock, businesses and farms need to expand pig herds and establish a closed chain from production to retail to regulate market prices reasonably.

Insurance policies for livestock should be provided for farmer households to make them feel secure to continue in their professional. In addition, the Husbandry Department should guide farmer households to rebuild their herds on the basis of biosecurity and extending farming time to increase meat output in the fastest manner.

Instead of raising pigs from 25 to 26 weeks, farmers should increase the farming time to 30 weeks to increase meat output by 20-30%. However, farmers are advised not to increase herds massively to avoid the risk of diseases.

In order to stabilise the domestic market and ensure disease safety, authorized agencies need to strengthen the control of pig trade to prevent the illegal export of pigs to China and import of pigs in southwest border provinces.

At the same time, they should build plans and make specific calculations on the quantity of pork imports from trade partners of Vietnam.


Top VND Exchange Rates

Auto-refesh 15m




Mid-market rates: 2024-07-15 04:07 UTC