Chinese pig prices remain low, domestic supply increases

The price of live pigs today, July 15, in the Southern region increased and decreased by 1,000 VND/kg, fluctuating between 58,000 - 63,000 VND/kg.

Pig price today, July 15: Chinese pig price remains low, domestic supply increases. (Source: Cooky)

Pig price today 7/15

* Pig prices in the Northern region remain stable across the board.

In particular, Hung Yen province continues to purchase live pigs at the highest price in the region at 66,000 VND/kg.

The remaining provinces and cities continue to purchase at prices ranging from 64,000 - 65,000 VND/kg.

Today's live pig price in the North is around 64,000 - 66,000 VND/kg.

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

Accordingly, Dak Lak province continues to purchase live pigs at the lowest price in the region at 59,000 VND/kg.

Live pigs in localities including Thanh Hoa, Nghe An and Ha Tinh were traded at 63,000 VND/kg. The remaining provinces did not record any new fluctuations compared to yesterday.

Currently, the purchase price of live pigs in the Central and Central Highlands regions is around 59,000 - 63,000 VND/kg.

* Pig prices in the South increased and decreased by 1,000 VND/kg.

Specifically, traders in the two provinces of Hau Giang and Ben Tre both adjusted the price down to 60,000 VND/kg.

Bac Lieu province raised the transaction price by 1,000 VND/kg to 61,000 VND/kg. 63,000 VND/kg is the purchase price recorded in Dong Thap and Soc Trang provinces, an increase of 1,000 VND/kg.

The price of live pigs in the Southern region today is between 58,000 - 63,000 VND/kg.

* The Import-Export Department (Ministry of Industry and Trade) said that in China, the price of live pigs in June fluctuated at a low level, averaging 14.24-14.4 yuan/kg. The main reason was the increase in supply in the domestic market.

The US Department of Agriculture (USDA) forecasts that China’s pork production will increase slightly in the coming time due to strong consumer demand. Exports are expected to increase due to the relaxation of border controls, which is expected to stimulate demand from hotels and restaurants for pork products.

USDA believes that after China lifts Covid-19 restrictions, people's demand for pork will increase sharply, which could cause both the country's pork production and imports to increase in 2023.

Specifically, in 2023, China expects domestic pork production to be about 55.5 million tons, an increase of 0.2% compared to 2022.

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