return icon Vietnamnet.vn

Pork prices fall, historic price crisis repeats

“Merchants yesterday agreed to buy pigs at VND30,500 per kilogram of live weight, but today they lowered the price to VND29,500,” Hoang Van Chung, a farmer in Tuyen Quang, said.

{keywords}

 

Chung is the owner of a farm with 1,600 pigs in SonDuong District. In general, he has to spend VND5.3 million to raise a pig until it weighs 1.3 quintals and can be sold.

His production cost is lower than other farmers because he can produce breeding stock. The cost can be as high as VND6.5 million if farmers have to buy breeders.

However, Chung has incurred losses because pork prices are plummeting. On October 14, he sold 30 pigs at VND29,500 per kilogram and took a loss of VND2.35 million for every pig sold.

With 300 pigs sold since the beginning of October, he has incurred a loss of VND600 million.

“With the current low prices, animal feed sellers refuse payment under the deferred mode. They fear that farmers who incur losses won’t have enough money to pay for feed. So farmers have to sell pigs right away, at any price,” Chung explained. “It’s now just like the price crisis in 2017."

Nguyen Cong Bac, the owner of a pig farm in ChiengSinh, SonLa, also complained that he had to sell 500 pigs two days ago at a loss at just VND30,000 per kilogram. However, the prices of the following days were even lower.

“With the current prices, the money from the sale of pigs is not high enough to pay for bran,” he complained, adding that he had incurred a loss of VND3 billion so far this October and VND5 billion, if counting in losses in September.

While the pig prices are dropping dramatically, animal feed prices are soaring. The current selling price of VND30,000 per kilogram is just equal to the VND17,000 per kilogram in 2017.

Deputy Chair of the DongNai Livestock Association Nguyen Kim Doan confirmed that prices are tumbling. On October 14, the best pigs in the province were sold at VND40,000 per kilogram, while others were VND35,000-37,000 per kilogram.

“The 2017 price crisis is repeating. The feed price has soared by 40 percent, pushing the production costs up. As a result, farmers are incurring a loss of VND2 million for every pig sold,” he said.

Dan estimated that hundreds of thousand of oversized pigs remain unsold in the livestock metropolis of Dong Nai. Before the fourth pandemic wave broke out in HCMC, Dong Nai provided 3,000-4,000 pigs to the city each day. The figure has dropped to 1,000, which means that DongNai has 2,000-3,000 pigs in excess everyday.

“It’s easier to sell the pigs weighing 1-1.1 quintals, while it’s difficult to sell the big ones with the weight of 1.3 quintals,” he explained.

 

Chau Giang

Pig farmers incur losses, pork shortage for Tet holiday possible

Pig farmers incur losses, pork shortage for Tet holiday possible

With the current low prices, farmers will take a loss of VND2 million when selling a pig. If the prices keep decreasing, farmers will give up farming, resulting in pork shortage for Tet (lunar New Year) sale season.

Pork prices plummet, breeders bemoan heavy losses

Pork prices plummet, breeders bemoan heavy losses

The price of live pigs is from VND47,000 to VND49,000/kg in some northern provinces and VND48,000 to VND52,000/kg in the central and southern regions, a strong drop compared to the previous months.  

MORE NEWS

Nha Trang school reopens after mass food poisoning case

ISchool Nha Trang reopened on Monday morning, a week after a mass food poisoning case left one student dead and hundreds of students and teachers hospitalised.

VN-Index breaches over 1,000 points

The rallies were driven by large-cap stocks in appealing industries, including banking, realty, manufacturing and utilities.

Da Nang hosts Western & Central Pacific Fisheries Commission’s regular session

The 19th regular session of the Western & Central Pacific Fisheries Commission (WCPFC) opened in the central city of Da Nang on November 28.

Ministry works to boost rail import-export volume to 5 million tonnes by 2030

The Ministry of Transport has submitted a plan to increase international freight transport by rail by 2030, with a target of shipping between 4 and 5 million tonnes.

PM holds telephone talks with French counterpart

Prime Minister Pham Minh Chinh on November 28 had a telephone conversation with his French counterpart Elisabeth Borne to seek ways to further strengthen the Vietnam-France strategic partnership, especially in economy, trade and investment.

Famous object designer presents art of assembling with Vietnamese lacquer

For the first time, Vietnamese people have a chance to see with their own eyes unique artworks by famous jewellery and object designer Gilles Jonemann that are on display at an exhibition in Hanoi.

Hanoi construction density from above

Many areas in Hanoi have seen high construction density with houses and high buildings due to rapid urbanisation.

Businesses in quandary due to credit limit

The long-term credit push to support the economy has a distorted capital flow.

VIETNAM NEWS HEADLINES NOVEMBER 28

National Assembly to hold extraordinary session in January 2023

Book tells journeys of Vietnamese immigrants to the UK in search of better lives

The life stories of Vietnamese migrants who are seeking better lives in the UK are vividly told in a new book.

Vietnamese movie honoured at France festival

“Tro tan ruc ro” (Glorious Ashes) by Bui Thac Chuyen won the "Golden balloon" award (Montgolfière d'or) at the Festival des 3 Continents 2022 which took place in Nantes, France, from November 18 – 27.

VIETNAM BUSINESS NEWS NOVEMBER 28

Gloomy outlook for exporters of aquatic products next year

Male model finishes fourth runner-up at Mister Grand International

Nguyen Vu Linh, Vietnamese representative at Mister Grand International 2022, was awarded the fourth runner-up title during the male pageant’s grand final held in Trinidad and Tobago on November 26.

Magnitude three earthquake hits northern border locality

An earthquake measuring three on the Richter scale jolted Ha Giang city in the northern border mountainous province of the same name on November 28.

Foreign fans congregate at Hanoi beer hub for 2022 World Cup

German and Spanish fans make their presence felt on backpackers street Ta Hien in Hanoi’s Old Quarter on November 28, supporting their respective countries at the ongoing 2022 FIFA World Cup underway in Qatar.
back_to_top