The Covid-19 pandemic has caused global trade bottlenecks and disruptions, but livestock exports are still growing strongly. With export turnover of $1.23 billion in 2020, livestock is the new export strength of Vietnam.
Even though pork prices have increased, farmers are having a hard time finding customers to buy pigs.
There is likely false play in the way livestock companies calculate the selling price of live pigs, which is helping them maintain stellar profits in spite of the government’s calls to stabilise prices.
The government ordered the inspection of big pork producers in Vietnam as part the efforts to curb prices, stabilise the market, and rein in inflation in 2020.
The Vietnamese livestock industry is expected to attract professional producers in the coming years.
In addition to businesses that have already established inroads in the country, over 50 foreign enterprises have expressed an interest in exporting pork products to Vietnam, according to the Ministry of Industry and Trade.
The plan to increase pork imports to make up for domestic shortages won’t be easy to implement as the global price has increased sharply.
Inflation for the next 12 months is expected to remain lower than 4 per cent, just like it has over the past three years.
Chung cake makers in Hanoi are facing difficulties buying pork as demand increases for the Tet Holiday.
Supplies of poultry and pork products are expected to be sufficient in HCM City during the upcoming Lunar New Year (Tet) holiday, which falls on January 25.
The proposed tariff cut is aimed to balance bilateral trade relations.
The Ministry of Finance has recently sent Dispatch No.14813/BTC-CST to competent ministries and sectors, suggesting cutting import on chicken and pork products.
Local pig farmers desperately wanted to recover their pig herds amid the pig undersupply and price upsurge on the local market, but existing conditions are not favorable for the effort.
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.
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.
Hanoi had culled more than 387,500 farmed pigs infected with African swine fever (ASF), or 20.7 percent of the city’s total herd by June 16.