Southern Vietnam sees unexpected surge in pig prices, major players in the pig farming industry report huge profits.

Pork prices saw a slight increase today in two southern provinces. Currently, prices in this region are trading in the range of 60,000 - 63,000 VND/kg. Many pig farming businesses are reporting significantly increased profits.

Pork prices today, November 20th: Prices remain stable in the North and Central regions, while prices in the South unexpectedly increased. (Source: Vincom)

Pork price today, November 20th

*Pork prices in Northern Vietnam:

The live pig market in Northern Vietnam maintained stable prices in the range of 61,000 - 63,000 VND/kg.

Specifically, Hanoi and the provinces of Phu Tho, Tuyen Quang, Thai Nguyen, Hai Duong, Hung Yen, Thai Binh , and Vinh Phuc are selling live pigs at 63,000 VND/kg, the highest price in the region.

*Pork prices in the Central and Central Highlands regions

Pork prices in the central and Central Highlands provinces remained unchanged this morning.

Accordingly, the transaction prices in localities within this region currently do not differ much, fluctuating from 60,000 to 61,000 VND/kg, with 61,000 VND/kg recorded in the provinces of Thanh Hoa, Nghe An, Quang Binh , and Lam Dong.

*Pork prices in the Southern region

In the southern region, prices saw a slight increase today in Hau Giang and An Giang, reaching 61,000 VND/kg and 62,000 VND/kg respectively.

Currently, traders in the South are buying live pigs at prices ranging from 60,000 to 63,000 VND/kg. Of these, live pigs in Dong Nai, Binh Duong, Bac Lieu, and Tra Vinh are being sold at the lowest price in the region, at 60,000 VND/kg.

Many pig farming businesses reported a sharp increase in profits in the third quarter of this year. Rising live pig prices coupled with lower input costs for pig farming are the reasons for the improved profitability in this sector.

The report shows that BAF's revenue in Q3/2024 increased by only 7% year-on-year, reaching VND 1,313 billion. However, the cost of goods sold increased at a lower rate, and gross profit improved to VND 222 billion. Therefore, despite many expenses such as interest, selling, and administrative costs rising, BAF's after-tax profit still increased by 54% year-on-year, reaching over VND 60 billion.

Another company in the processing and livestock industry that recorded quite positive profits in the third quarter of this year is Vietnam Livestock Industry Corporation - Vissan (VSN).

The "king" of pig farming in Northern Vietnam - Dabaco Vietnam Group Joint Stock Company (DBC) also reported a net profit of over 312 billion VND, 26 times higher than the same period last year.

Source: https://baoquocte.vn/gia-heo-hoi-hom-nay-2011-mien-nam-bat-ngo-tang-cac-ong-lon-nganh-chan-nuoi-heo-bao-lai-khung-294366.html