Update news pork price
The Government Office yesterday released Document No.4679/VPCP-KTTH about the direction of Deputy Prime Minister Le Minh Khai on stabilizing the prices of pork and animal feed, which have increased significantly lately.
More than 500,000 pigs have been imported from Thailand since June 2020. However, the pork price has been rising to VND78,000-85,000 per kilogram in the lead-up to the Tet holiday.
Vietnam spent VND5 trillion ($214.78 million) to import pork in the first nine months of the year, leading to a drop in prices.
The pork production cost is just VND50,000 per kilogram for closed husbandry chains, while the live pork price in the market is VND80,000.
The rising number of herd stock, plus pork imports, have helped lower the domestic pork price.
While government officials attribute the high pork price to the low supply caused by the African swine fever (ASF), experts say they can see signs of oligopoly.
The price of live hog in the Vietnamese market decreased recently after the Ministry of Agriculture and Rural Development (MARD) allowed imports of pigs from Thailand.
Even though pork prices have increased, farmers are having a hard time finding customers to buy pigs.
The petrol price has decreased by VND5,000 per liter after seven adjustments, but the prices of other goods remain unchanged.
CP Vietnam, the largest animal husbandry company, says that animal feed supply could run out by the end of May.
A vaccine against African Swine Fever (ASF) is being developed in Vietnam.
The Ministry of Agriculture and Rural Development’s leadership should evaluate and learn from its shortcomings and be held accountable for delays in reporting the potential shortage of pork and the pork price hike to the Government.