Vietnam records sharp rise in live hog prices

Currently, one kilogramme of bacon sells for 5.98 USD, up nearly 85 cents from two weeks ago. Live hog prices in the northern region range from 2.95- 3.08 USD per kg, the highest in Vietnam.

The price hike is attributed to low supply, which stems from farmers' hesitation to breed pigs due to high input costs. Another cause is hog prices in China and Thailand rising to nearly 3.85 USD, which has also affected prices in Vietnam.

Notably, high prices might not mean good news for farmers as consumption has been slow. Faced with this situation, Deputy Prime Minister Lê Minh Khái has asked relevant agencies to monitor hog prices and prevent speculation.