Pig prices continue to decrease, Vietnam's pork market still has growth potential

The price of live pigs today, August 22, in the Central and Central Highlands regions decreased by 2,000 VND/kg, fluctuating between 57,000 - 60,000 VND/kg.

Giá heo hơi hôm nay 22/8: Giá heo hơi giảm tiếp, thị trường thịt heo Việt Nam còn tiềm năng tăng trưởng

Pig price today, August 22: Pig price continues to decrease, Vietnam's pork market still has growth potential. (Source: Investment)

Pig price today 8/22

* Pig prices in the Northern region recorded a slight decrease.

In which, Tuyen Quang province reduced 1,000 VND/kg to 60,000 VND/kg.

Yen Bai and Lao Cai provinces both traded at 59,000 VND/kg - the lowest in the region. Live pigs in the remaining localities were purchased at prices ranging from 60,000 - 61,000 VND/kg.

Today's live pig price in the North is between 59,000 - 61,000 VND/kg.

* The live pig market in the Central and Central Highlands regions decreased by 2,000 VND/kg.

Of which, live pigs in Nghe An province were purchased by traders at 58,000 VND/kg - equal to Quang Tri, Quang Ngai, Ninh Thuan and Binh Thuan , down 2,000 VND/kg.

57,000 VND/kg is the lowest transaction price in the region, recorded in Binh Dinh and Dak Lak.

The remaining localities did not record any new changes compared to yesterday.

Currently, the purchase price of live pigs in the Central and Central Highlands regions is around 57,000 - 60,000 VND/kg.

* Pig price in the South decreased by 1,000 VND/kg.

Specifically, after a price reduction, Tien Giang province traded live pigs at 57,000 VND/kg. Meanwhile, Dong Nai is the locality recording the highest purchase price in the region at 59,000 VND/kg.

The remaining localities maintain purchasing prices at 57,000 - 59,000 VND/kg.

The price of live pigs in the Southern region today is around 57,000 - 59,000 VND/kg.

* Assessing the pork market, VNDirect Securities Company said that income, nutritional knowledge and health awareness of Vietnamese people are increasing, especially after the impact of African swine fever and Covid-19, leading to increased demand for clean meat.

This trend is growing strongly in urban areas, thanks to the development of modern trade channels that help consumers easily access clean meat with brands and clear origins.

VNDirect believes that the Vietnamese pork market still has growth potential and businesses applying the 3F model (Feed-Farm-Food: strict control from breeding stock-feed-farm system to finished meat processing factory) will benefit from the trend of shifting demand to clean meat in urban areas.

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