Deputy Prime Minister Vuong Dinh Hue on November 18 assigned the Ministry of Industry and Trade to calculate pork supply and demand every month from now until Tet holiday.
Consumers buy pork in Ben Thanh market, District 1, HCMC
The requirement was made at a meeting presided over by Mr. Hue with the attendance of relevant ministries and agencies about pork price and market stabilization in the remaining months of 2019 at the Government Headquarters.
The meeting took place amid the scenario in which the high increase tendency of pork price in the end months of the year requires solutions to control Consumer Price Index (CPI), ensure pork supply and curb inflation to the necessary item.
At the meeting, Deputy Prime Minister Vuong Dinh Hue assigned the Ministry of Agriculture and Rural Development to quickly announce the state of pork supply as well as demand and suggest solutions to prevent shortage in the upcoming time, especially in Tet holiday when pork demand rises 25-30 percent a day.
The ministry should forecast pork demand and supply sources for each month from now until the holiday, report the Government a plan to make sure sufficient supply and prevent redundancy in the upcoming time.
The Government will control inflation from 3.3-3.9 percent or lower despite world petrol and pork price hike.
According to the Ministry of Agriculture and Rural Development, African swine fever (ASF) has forced destroy of 5.88 million pigs with the total weight of 337,000 tons, accounting for 8.8 percent of the total weight of pig herds nationwide.
So far, ASF has been over for 30 days in 54 percent of communes nationwide. The epidemic has basically ended in the northern province of Hung Yen. Many localities have resumed breeding.
For the last past, pig price has averaged VND60,000-67,000 a kilogram, reaching VND75,000-80,000 in some places because of partly scarcity.
The General Statistics Office of Vietnam reported that pork price has increased nearly 19 percent over the same period last year. November CPI is forecast to rise about 0.8-1 percent, pork prices will impact on an 0.75 percent increase in CPI.
It is expected that total pork demand will top 600,000 tons in the forth quarter this year while supply will total 400,000 tons, leaving a shortage of over 200,000 tons.
If pork price hikes an extra of 10-15 percent reaching VND80,000 a kilogram of pig, CPI will soar 0.5-0.7 percent.
This year CPI is predicted to increase less than 3 percent compared to 2018 and be under control.
However there should be solutions to control price, prevent high increase, limit expected inflation and create room for price management in 2020. SGGP
HCMC needs a pork and pig exchange floor where safe pork can be traded and the prices of pork and live pigs can be stabilized, benefiting both customers and pork suppliers and traders.
The Ministry of Industry and Trade over the past few months has proposed solutions to the prime minister to stabilize the local market in the lead up to the upcoming Tet holiday early next year.