Pork prices continue to fall, supermarkets launch promotions to attract buyers

Pork prices continue to fall.

After several downward sessions, live pig prices still show no signs of recovering. The live pig market in the North saw slight decreases in some areas compared to yesterday. Specifically, two localities, Vinh Phuc and Hanoi, both experienced a 1-price drop, bringing the trading price of live pigs down to 51,000 VND/kg.

In other provinces, the listed live pig prices are as follows: Phu Tho, Tuyen Quang, Thai Nguyen, Hung Yen, Ha Nam, Thai Binh... (51,000 VND/kg). Yen Bai and Bac Giang list live pigs at 52,000 VND/kg. Ninh Binh is currently purchasing pigs at 50,000 VND/kg - the lowest price in the region.

Nationwide pork price update. Source: Anova Feed

The live pig market in Central Vietnam and the Central Highlands remained unchanged in price compared to yesterday. The highest price in the region is currently at 51,000 VND/kg, in Lam Dong province. Other localities are still trading within the range of 49,000 - 50,000 VND/kg.

Meanwhile, the live pig market in the South remained stable compared to yesterday. Kien Giang province is still trading at 48,000 VND/kg – the lowest price in the region currently. Ca Mau province maintains the highest price at 53,000 VND/kg. Other localities are trading sideways, with prices ranging from 49,000 to 52,000 VND/kg.

Meat prices at markets and supermarkets are falling.

Observations at supermarkets in Hanoi show that pork prices are also trending downwards. Many supermarkets are launching promotions to attract customers. At BigC Thang Long (Hanoi), many types of meat are discounted by up to 10% from Monday to Friday. The price of frozen meat is only in the range of 35,000 - 65,000 VND/kg.

Specifically, frozen pork trotters are priced at 35,000 VND/kg; frozen pork trotters cut into pieces are priced at 39,000 VND/kg; imported frozen pork knuckles are priced at 65,000 VND/kg...

Many supermarkets are offering promotions on pork to attract customers. The image was taken at BigC Thăng Long supermarket at 6 PM on November 24, 2023. Photo: Phan Anh

BaF Meat's vegetarian pork products also have many promotions. BAF minced pork is reduced from 114,500 VND/kg to 99,000 VND/kg; BAF sirloin is reduced from 146,000 VND/kg to 125,000 VND/kg; BAF pork jowl is reduced from 367,500 VND/kg to 249,000 VND/kg; BAF pork bones are reduced from 40,000 VND/kg to 35,000 VND/kg; pork leg is reduced from 114,500 VND/kg to 99,000 VND/kg; BAF pork belly is reduced from 165,000 VND/kg to 158,000 VND/kg...

At WinMart Me Tri Thuong, MEATDeli pork shoulder is priced at 126,900 VND/kg; MEATDeli pork loin is priced at 174,900 VND/kg; MEATDeli boneless pork leg is priced at 130,900 VND/kg; MEATDeli special pork belly is priced at 244,900 VND/kg...

Amidst a downward trend in pork prices, China has announced it will stockpile pork in central warehouses to stabilize the price of this key commodity. The National Development and Reform Commission (NDRC) made this announcement on November 24th. This will be the third time this year that pork has been purchased and stockpiled in central warehouses. This move comes as pork prices in China are trending downwards.

According to the plan to stabilize the pork market, China is implementing a three-tiered early warning system to alert against excessive increases or decreases in pork prices. The NDRC stated that it will coordinate with relevant ministries to launch a stockpiling program for national reserves as planned.

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