Pig prices increase sharply

Last week, the price of live pigs continuously increased, in some places it increased by 10,000 VND per kilogram, equivalent to about 20% compared to last month.

Specifically, in the Northern region, the price increased by 5,000 VND last week, to 57,000-60,000 VND per kilogram. In the Central region, the price also increased, in which, in provinces such as Hue, Thanh Hoa, Binh Thuan , the price increased by 6,000 VND, to 60,000-61,000 VND per kilogram.

In the Southern region alone, the price of live pigs recorded the strongest increase last week. In Ho Chi Minh City and Dong Nai , grade 1 pigs increased to 62,000 VND per kg, grade 2 pigs fluctuated between 57,000-59,000 VND.

The price is a bit high, causing the price of pork loin at wholesale markets in Ho Chi Minh City in recent days to increase to 74,000 VND per kilogram. Retail meat prices at markets and supermarkets have also been adjusted up by 2,000-3,000 VND. Accordingly, pork belly is sold for 140,000-160,000 VND per kilogram, baby back ribs for 160,000-170,000 VND, and boneless ham hocks for 120,000 VND.

Pigs at a farm in Gia Lai . Photo: HAGL

Mr. Hoang, a pig trader in Dong Nai, said the reason for the increase in pig prices is because the herd restoration is slow, so the supply is reduced.

In addition, African swine fever is spreading, with some localities in Ninh Binh province showing signs of complicated developments. The province has allocated tens of billions of VND to districts and cities to prevent the epidemic. The Department of Animal Husbandry and Veterinary Medicine of Ninh Binh province has strengthened supervision at the grassroots level and households, especially in areas where the epidemic has occurred and high-risk areas, to localize and handle outbreaks.

According to Mr. Nguyen Tri Cong, Chairman of Dong Nai Livestock Association, in addition to the epidemic factor, the biggest impact on the increase in pork prices is still the supply and demand factor. Recently, the sharp drop in pork prices has caused small-scale pig farmers to suspend their pig farms, so the supply to the market has decreased compared to the previous month.

"With the price of 58,000-62,000 VND per kilogram, farmers can only break even or make low profits," said Mr. Cong.

He predicted that in the coming time, pork prices may only increase slightly and will hardly increase dramatically because purchasing power in the market is still weak due to the economic recession and many factories and plants ceasing operations.

Thi Ha

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