Pork prices have uniformly stabilized; has the downward trend stopped?

Today, October 16th, live pig prices remained stable across the country, fluctuating between 48,000 and 53,000 VND/kg.

Pork prices today, October 16th: Pork prices remain unchanged, has the downward trend stopped? (Source: aFamily)

Pork price today, October 16th

* The live pig market in the North remained flat on the first day of the week.

Accordingly, 50,000 VND/kg is the lowest price for live pigs in the region, continuing to be found in Yen Bai, Lao Cai , Nam Dinh, Phu Tho, Ha Nam, Vinh Phuc, and Ninh Binh.

Traders in other provinces and cities are buying live pigs at stable prices of around 51,000 - 52,000 VND/kg.

Today's live pig price in Northern Vietnam is in the range of 50,000 - 52,000 VND/kg.

* There have been no new changes in live pig prices in the Central and Central Highlands regions.

Specifically, the lowest transaction price in the region is currently in Nghe An province at 49,000 VND/kg. Live pigs in Quang Ngai and Lam Dong provinces are being purchased at the highest price in the region, 52,000 VND/kg.

The price of live pigs recorded in the remaining provinces was 50,000 - 51,000 VND/kg.

Currently, the price of live pigs in the Central and Central Highlands regions ranges from 49,000 to 52,000 VND/kg.

* In the southern region, pork prices also stabilized across the board, following the general trend.

In particular, Kien Giang and Ca Mau continued to maintain the lowest and highest pork prices in the region at 48,000 VND/kg and 53,000 VND/kg respectively.

Live pigs in the remaining provinces and cities in the region are being purchased at stable prices ranging from 49,000 to 52,000 VND/kg.

Today, live pig prices in the Southern region range from 48,000 to 53,000 VND/kg.

* As of now, live pig prices have decreased by 13-17% compared to their peak in early July. Prices are also returning to the general levels of the first four months of 2023.

According to industry experts, the low price of pork recently is partly due to a small number of overgrown pigs remaining, and partly because African swine fever has occurred in some areas, causing farmers to sell their pigs to avoid the disease.

The pork market in 2023 faced significant challenges due to the economic downturn, a decrease in the number of businesses, and workers tightening their spending.

Mr. Nguyen Tri Cong, Chairman of the Dong Nai Livestock Association, predicted that at the end of the year and during the Lunar New Year, the price of live pigs may be higher than it is now, but still below 60,000 VND/kg because supply remains sufficient while demand is very low.

"Normally, pork consumption from the beginning of the fourth quarter of 2023 to the Lunar New Year is considered the most vibrant period of the year; however, this year the market is quite sluggish. The price of live pigs will remain below 60,000 VND/kg until the first half of 2024," Mr. Nguyen Tri Cong predicted.

Source