Pig farmers in southern of Vietnam are potentially facing huge losses before Tet (Lunar New Year) as pork prices have plummeted by 15-20 per cent in the last two months.

Every year sees each Vietnamese person consumes roughly 55kg to 57kg of meat of all kinds, as well as between 130 to 135 eggs, equal to between 70% and 80% of other Asian countries such as Japan and the Republic of Korea.

According to a recent report by Fitch Solutions (USA), Vietnam’s total meat consumption is forecast to grow by over 25% in the period 2018-2026.

As pork consumption is expected to rise in the short term, many big companies are injecting trillions of dong into pig farming, with a market value estimated at up to 15 billion USD.

Pork became very expensive in 2020 as Vietnam had to import pork to satisfy domestic demand.

The price of pigs in Vietnam, which while dropping remains much higher than before the global health crisis, is being deemed the main factor creating breakthrough profits for husbandry groups, 

Deputy Minister of Industry and Trade Do Thang Hai has warned localities of illegal pig and pork imports from Cambodia and Thailand.

Vietnamese chicken farmers are facing big losses as prices have sharply fallen due to rising supply.

As of June 24 ASF had broken out in 60 of the country’s 63 provinces and cities, and more than 2.6 million pigs had to be culled, severely affecting the pork demand-supply balance.

 VietNamNet Bridge – In the last months of the year, Vietnam’s imports of meat have soared.Despite import taxes, many kinds of imported meat are cheaper than domestic products.

 VietNamNet Bridge – Australian beef has been flooding supermarkets. In the first 10 months of 2013, the import chicken and pork increased by three folds over 2012.