HCMC — Vietnam spent more than US$900 million importing over 451,000 tons of meat and meat products in the first half of this year, preliminary customs data showed.
Imports rose 11.8% in volume and 14.9% in value from a year earlier, reaching US$900.56 million, the highest level for the period in recent years.
Meat exports in the same period totaled 11,600 tons worth US$60.03 million, up 0.9% in volume and 20.9% in value. Import volumes were 39 times higher than exports, while import value was 15 times greater.
Most imports were frozen buffalo, beef, pork and poultry from major livestock producers, including the U.S., Brazil, Australia and Russia. Competitive prices for frozen chicken and beef have placed domestic producers under pressure.
In the second quarter, local live hog prices ranged from VND62,000 to VND71,000 per kilogram. Domestic pork faced sluggish demand due to higher production costs, fragmented supply chains and reliance on imported feed, which kept prices above those of imported products.
