Pig prices remain stable, China's pork demand will recover

The price of live pigs today, June 26, in the Northern region remained stable, fluctuating between 60,000 - 63,000 VND/kg. China announced that it will reserve pork to replenish the national reserve, as the pork price monitoring index has dropped to a warning level.

Giá heo hơi hôm nay 26/6: (Nguồn:Bepbep.vn)

Pig price today, June 26: Pig prices remain stable, China's pork demand will recover. (Source: Bepbep.vn)

Pig price today June 26

* Pig prices in the Northern region remained stable today.

In particular, the highest transaction price in the region is 63,000 VND/kg, continuing to be present in Bac Giang, Hung Yen, Phu Tho and Thai Binh .

Lower than a price of 62,000 VND/kg include Thai Nguyen, Vinh Phuc , Hanoi and Tuyen Quang.

Except for Yen Bai and Lao Cai, which are anchored at 61,000 VND/kg, the remaining localities maintain stable purchasing prices at 60,000 VND/kg.

Today's live pig price in the North fluctuates between 60,000 - 63,000 VND/kg.

* The pig market in the Central and Central Highlands regions has no new changes.

Accordingly, traders in Thanh Hoa continue to buy live pigs at the highest price in the region of 62,000 VND/kg.

The remaining localities have stable transactions around the average mark of 60,000 VND/kg. Currently, the purchase price of live pigs in the Central and Central Highlands regions is around 58,000 - 62,000 VND/kg.

* In the Southern region, pig prices also remained stable across a wide area.

Specifically, the price of live pigs in Dong Thap, Can Tho, Tien Giang and Bac Lieu is 58,000 VND/kg - the lowest in the region.

59,000 VND/kg is the price of live pigs recorded in Binh Phuoc, An Giang, Vinh Long, Kien Giang, Hau Giang, Ca Mau, Tra Vinh and Ben Tre. Live pigs in the remaining localities are purchased at the highest price of 60,000 VND/kg.

The price of live pigs in the Southern region today fluctuates between 58,000 - 60,000 VND/kg.

* In China, recently, the country's demand has been low, so the pressure on live pig prices is very large.

According to information from the Ministry of Industry and Trade, the country recently announced that it will reserve pork to replenish the national reserve, as the pork price monitoring index has dropped to a warning level. This is the second batch of frozen pork in 2023 to be purchased and put into the national reserve.

However, in the medium term, China's pork demand is expected to recover. Currently, there are positive signs that China's meat demand is increasing.

Data from the Chinese Customs Administration shows that in May 2023, the country imported 140,000 tons, up 7.7% over the same period last year. In the first 5 months, the country imported 810,000 tons, up 17% over the same period.

China's pork import demand is forecast to continue to increase in the second quarter of 2023 thanks to strong consumer demand.

Meanwhile, the US Department of Agriculture (USDA) said that China's pork production is expected to increase slightly as consumer demand remains strong.

In addition, the country's exports are expected to increase as the relaxation of border controls in Japan and Hong Kong (China) markets is expected to stimulate demand from hotels, restaurants and the institutional sector for processed pork products from China.

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