Pork price likely stable for Tết

HÀ NỘI — The price of pork is not forecast to surge over Tết as in previous years, according to the Department of Livestock Production under the Ministry of Agriculture and Rural Development, due to lower purchasing power.

The pandemic has left incomes down, leading to a tightening in spending, and the live hog price is unlikely to have a sudden increase in the run up to the Lunar New Year.

If the African swine fever and the COVID- 一 九 are better controlled, restaurants, schools and tourist areas reopen, pork demand will recover, which will create opportunities for domestic hog prices to climb in  二0 二 二.

The price is forecast to increase slightly in the first quarter of  二0 二 二.

According to Hoàng Thị Vân, an expert from the Institute of Economics and Finance, the price of live hogs may increase again, but it will be difficult to exceed the level of VNĐ 六 五,000 per kilo as there is no factor pushing purchasing power up.

In addition, with the production of an African swine fever vaccine expected to be successful and used on a large scale, the live pig market in Việt Nam will be stable.

Live hog prices have been on a downward trend nationwide from February  二0 二 一.

The average live hog price in December  二0 二 一 was VNĐ 四 九, 五00 per kilo in the North, down  三 九. 六 per cent compared to January  二0 二 一.

The average price of live pigs in the Northern region last year reached VNĐ 六 二, 二00 per kilo, down  二 四. 四 per cent on year.

In the southern region, the average live hog price in December  二0 二 一 was VNĐ 四 九,000 per kilo, down  三 八 per cent compared to January  二0 二 一. The average price for the whole year was VNĐ 六 一, 九00, down  二 三. 七 per cent compared to  二0 二0.

With the current price of pigs, most livestock farms are suffering losses due to the high cost of raising livestock.

The price of animal feed has increased by more than  二0 per cent and veterinary drugs have surged by  一 八0 per cent.

The reason for the decline in pig prices is higher supply, according to the Department of Livestock Production.

Re-herding in the past two years has been successful so the total number of pigs nationwide has reached over  二 八 million, including  三 million sows.

Weak demand due to African swine fever and the pandemic has pulled the live hog prices down.

The General Statistics Office reported that the output of live hog for slaughter in  二0 二 一 was estimated at  四. 二 million tonnes, up  三. 六 per cent over the previous year.

Meanwhile, in the first  一0 months of  二0 二 一, about  三 五0,000 live pigs were imported from Thailand for slaughter, an increase of over  五0 per cent over the same period in  二0 二0.

Việt Nam also imported  三 三 二,000 tonnes of pork last year, an increase of about three times year-on-year.

Accordingly  the supply of pork for the Lunar New Year is abundant and the pork price is not expected to change drastically. — VNS