Pig price increased slightly, pig raising cost is higher than selling price

The price of live pigs today, December 26, in the Southern region recorded an increase of 1,000 - 2,000 VND/kg, fluctuating between 49,000 - 52,000 VND/kg.

Pig price today December 26: Pig price increased slightly, pig raising cost is higher than selling price. (Source: Pinterest)

Pig price today 12/26

* The live hog market in the North recorded an increase of VND 1,000/kg in Phu Tho, Hanoi and Tuyen Quang provinces, currently at VND 52,000/kg - the highest in the region.

The remaining provinces and cities have prices unchanged compared to yesterday.

Today's live pig price in the North is around 50,000 - 52,000 VND/kg.

* Pig prices in the Central and Central Highlands regions increased slightly in some places.

Specifically, live pigs in Lam Dong are being purchased at 50,000 VND/kg, an increase of 1,000 VND/kg.

With the same increase, the three provinces of Quang Nam, Ninh Thuan and Binh Thuan also adjusted the purchase price to a common level of 49,000 VND/kg.

Currently, the price of live pigs in the Central and Central Highlands regions is around 48,000 - 50,000 VND/kg.

* In the Southern region, the price of live pigs increased by 1,000 - 2,000 VND/kg.

In particular, Ba Ria - Vung Tau province adjusted the price up by 2,000 VND/kg, to 50,000 VND/kg.

After increasing by 1,000 VND/kg, the price of live pigs in Binh Phuoc, Ho Chi Minh City, Binh Duong and Tay Ninh provinces is currently at 49,000 VND/kg.

With the same increase, Dong Thap, Can Tho, Hau Giang and Bac Lieu provinces also adjusted the purchase price to the same level of 50,000 VND/kg.

The price of live pigs in the Southern region today fluctuates between 49,000 - 52,000 VND/kg.

* According to the report of the Department of Animal Husbandry (Ministry of Agriculture and Rural Development), in early December, the average price of live pigs nationwide was 48,000 VND per kg. The price has slightly increased to 49,000 - 53,000 VND/kg but is still about 5% lower than the same period last year.

Pig farmers are suffering heavy losses as raising costs increase and selling prices fall sharply. Currently, the cost of raising each pig is about 8-15% higher than the selling price.

"Decoding" the reason for the price drop, the Department of Animal Husbandry said that food purchasing power decreased, people tightened spending when inflation increased. Many factories did not have production orders, so food consumption in industrial zones plummeted, pushing pork prices down.

Demand is weak but domestic meat supply is increasing because businesses and farms maintain high numbers of pigs. In addition, the psychology of farmers is affected by African swine fever, pigs are sold before reaching the right weight, causing traders to squeeze the price of pigs sold.

While domestic supply is surplus, imported meat volume will increase in the second half of 2023. Data from the Department of Livestock Production shows that in the past 11 months, Vietnam imported nearly 102,000 tons of pork and 104,500 tons of pork products, an increase of more than 85% over the same period last year.

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