Pig prices continue to climb, possibly reaching 70,000 VND/kg

The price of live pigs today, September 8, in the Northern region increased slightly in some places, fluctuating between 58,000 - 60,000 VND/kg.

Pig price today, September 8: Pig price continues to climb, possibly reaching 70,000 VND/kg. (Source: MEAT Deli)

Pig price today 9/8

* Pig prices in the Northern region increased slightly in some places.

In particular, after a slight price increase, traders in Ninh Binh province are currently purchasing live pigs at 59,000 VND/kg.

With the same increase, live pigs in Bac Giang and Hanoi are being traded at the same threshold of 60,000 VND/kg, along with Thai Nguyen, Phu Tho and Thai Binh .

Today's live pig price in the North fluctuates between 58,000 - 60,000 VND/kg.

* The pig market in the Central and Central Highlands regions has not recorded any new price fluctuations.

Accordingly, 58,000 VND/kg is the highest price of live pigs in the region, currently available in Thanh Hoa, Nghe An and Ha Tinh .

Meanwhile, live pigs in Binh Dinh are being purchased at the lowest price of 55,000 VND/kg. Traders in the remaining provinces maintain stable transactions in the range of 56,000 - 57,000 VND/kg.

Currently, the purchase price of live pigs in the Central and Central Highlands regions is around 55,000 - 58,000 VND/kg.

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

Specifically, Can Tho province adjusted the transaction price to 57,000 VND/kg.

Except for Ca Mau province, which is still at the highest level of 59,000 VND/kg, the remaining provinces and cities have stable purchasing prices in the range of 56,000 - 58,000 VND/kg.

The price of live pigs in the Southern region today fluctuates between 56,000 - 59,000 VND/kg.

* The Import-Export Department (Ministry of Industry and Trade) explained that the decrease in pork prices is due to the entry into the seventh lunar month, which is the vegetarian season. According to market rules, this is the time when pork consumption is at its lowest in the year.

In addition, school consumption is low during the summer break. However, this price is still much higher than the first months of the year.

The Import-Export Department said that there were factors supporting pork prices in the final period of the year. Accordingly, the supply of pigs in 2023 is not expected to fluctuate much because many farmers will find it difficult to immediately re-herd on a large scale after suffering losses for two consecutive years.

In addition, inflation remains low, basic wages increase, supporting year-end consumption, and the cooling of animal feed prices are also driving forces to help businesses improve business results.

Another supporting factor is that the new wave of epidemics along with floods in China may reduce supply, pushing pork prices in that country up again, which may partly affect Vietnam's pork market.

Mr. Nguyen Van Trong, former Deputy Director of the Department of Animal Husbandry, predicted that from the second half of August and the first half of September (the 7th lunar month - the Ghost month), pork prices may have a slight downward adjustment due to Vietnamese custom of avoiding organizing weddings and important events during the Ghost month.

However, this expert affirmed that the price of live pigs in the last months of the year will remain high, fluctuating between 65,000 - 70,000 VND/kg because the supply cannot meet the demand in time, and the herd restoration time will take about 6-8 months for pork.

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