A large volume of imports, combined with a sharp increase in domestic supply, has pushed the price of live pigs down, in some places to below VND60,000/kg.
According to the General Department of Customs, in the first 4 months of 2021, Vietnam imported about 51,150 tons of fresh, chilled, or frozen pork, worth nearly 117 million USD, up 118% in volume and 112% in value over the same period in 2020.
On average, 1 kg of pork imported to Vietnam in April 2021 cost more than USD2.2/kg (excluding taxes and fees), equivalent to more than VND50,000/kg.
The report on the implementation of the Agricultural Development Plan for the first 6 months of this year by the Ministry of Agriculture and Rural Development also stated that the pig herd increased by about 11.6% and the output of live pigs reached 2 million tons, an increase of 8.1%.
The strong increase in imported and domestic supply pushed the price of live pigs to the lowest level in the past 2 years, even returning to the level before the price fever of this item (November 2019).
The price of live pigs is falling sharply due to abundant supply.
Recording the price of live pigs on the morning of July 6, the downward trend still occurred in most localities. Specifically, in the North, in the provinces of Yen Bai, Nam Dinh, Thai Nguyen, Hanoi, and Hung Yen, the price of live pigs fluctuated between 62,000 and 66,000 VND/kg.
In the Central and Central Highlands regions, the price of pigs decreased to 60,000–63,000 VND/kg. The lowest price (57,000 VND/kg of live pig) was recorded in Dak Lak.
Meanwhile, in the southern provinces such as Tien Giang, Vung Tau, Hau Giang, Ben Tre, the price of live pigs is falling sharply, only 56,000-58,000 VND/kg.
Compared to May 2020, when the market recorded the highest price of live pigs in history, surpassing the 100,000 VND/kg mark, the price of this item has now decreased by about 35,000-45,000 VND/kg.
Facing a sharp price drop, while animal feed has increased sharply, it has pushed farmers into a difficult situation.
Sharing with the reporter. VietNamNet, Mr. Nguyen Van Binh, a pig farmer in Tam Duong (Vinh Phuc), admitted that the price of animal feed is increasing sharply. According to calculations, when a pig reaches a weight of 1.1 quintals, he has to spend 3.6 million VND on feed, 2.6 million VND on breed (in March this year), about 350,000 VND on electricity, water, labor, etc. If he sells at the current price of 62,000-63,000 VND/kg, he will almost break even. However, the price of pigs is falling sharply, so the possibility of loss is very high.
Mr. Nguyen Cong Bac, owner of a pig farm with nearly 10,000 pigs in Son La, said that with the current price fluctuating in the range of 62,000-65,000 VND/kg, large-scale farms like his still have a slight profit. However, small-scale farmers who have to buy piglets at high prices may suffer losses.
According to Vietnamnet.vn