Pig prices in China remain low and unlikely to reverse

The price of live pigs today, August 12, in the Northern region decreased slightly, fluctuating between 62,000 - 63,000 VND/kg. In July 2023, the price of live pigs in China remained low, averaging 14.23 - 14.4 yuan/kg.

Giá heo hơi hôm nay 12/8 (Nguồn: Vietnambiz)

Pig price today August 12: Pig price in China is still fluctuating at a low level. (Source: Vietnambiz)

Pig price today 12/8

* Pig prices in the Northern region decreased slightly.

Specifically, Ha Nam province adjusted the price down to 62,000 VND/kg.

After a decrease of VND1,000/kg, live pigs in Thai Binh province were traded at VND63,000/kg - equal to localities including Hung Yen, Vinh Phuc, Hanoi and Tuyen Quang.

Traders in the remaining localities traded stably.

Today's live pig price in the North is around 62,000 - 63,000 VND/kg.

* Pig market prices in the Central and Central Highlands regions have stagnated.

In particular, live pigs in Dak Lak province continue to be traded at the lowest level in the region at 58,000 VND/kg.

59,000 - 62,000 VND/kg is the price range recorded in the remaining provinces.

Currently, the purchase price of live pigs in the Central and Central Highlands regions is around 58,000 - 62,000 VND/kg.

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

Specifically, after a price reduction, live pigs in Ben Tre and Soc Trang provinces were purchased at 57,000 VND/kg - equal to Hau Giang province.

Other provinces and cities continue to trade at 58,000 VND/kg and 59,000 VND/kg.

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

* The Import-Export Department (Ministry of Industry and Trade) said that pork prices in China from the beginning of 2023 to now have tended to decrease compared to the same period in 2022, so some producers began to reduce their herds in the second quarter of 2023 and increase slaughter volume.

Pork prices in China have hovered around 15 yuan (CNY)/kg (US$2.1/kg) since the beginning of 2023, much lower than the average production cost of 18 yuan/kg.

In July 2023, the price of live pigs in China remained low, averaging 14.23 - 14.4 yuan/kg. The price of live pigs in China is approaching the price in Europe, which is unprecedented.

Meanwhile, the US and Brazil are becoming more competitive pork suppliers compared to the European Union (EU) in terms of price.

China's National Development and Reform Commission will begin the second round of purchasing and storing pork in central reserves, and guide local authorities to purchase and store it. This is an important measure to push the price of live pigs to a reasonable level.

This purchase and storage is very small compared to the market supply and will not change the overall supply and demand structure.

Currently, China's supply of live pigs remains high. In addition, July and August are the low season for pork consumption in China, so it is unlikely that live pig prices will reverse in the short term.

Source