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Sunday, July 14, 2024

Live-pig prices plunge to 4-year lows

The Saigon Times

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HCMC – Live-pig prices have fallen to VND30,000-40,000 per kilogram, the lowest in four years.

On October 18, live-pig prices in the northern region were the lowest in the country, at VND30,000-35,000 per kilogram, or even below VND30,000 per kilogram in some areas.

Live-pig prices in the central region and the Central Highlands were VND43,000-49,000 per kilogram, the highest in the country.

Prices of live pigs in the southern region were VND38,000-40,000 per kilogram.

Dang Duc Binh, a pig farmer in Chau Duc District, Ba Ria-Vung Tau Province, said live-pig prices have fallen by nearly 50% since the beginning of this year.

However, the prices of animal feed have soared 30-40% from last year, causing huge losses for farmers. Binh said he suffered a loss of VND1.2-1.5 million per pig.

Ngo Van Hoa, a pig farmer in Lap Thach District, Vinh Phuc Province, said he sold his pig herd at VND28,000 per kilogram, while the cost to raise a pig amounted to over VND5 million.

“Over the past several years, live-pig prices have never dropped as sharply as this time. I suffered a loss of more than VND1 million per pig,” he said.

Some experts worry that the falling live-pig prices would negatively affect the supply of pigs during the year-end season and the Lunar New Year holiday.

Nguyen Van Trong, deputy director of the Department of Livestock Production, said Vietnam expects to produce 6.2 million tons of meat, 1.2 million tons of milk and 16 billion eggs this year.

As of late September, the country had produced 4.7 million tons of meat, 900,000 tons of milk and 12 billion eggs.

The Covid-19 pandemic has affected the transport of goods and income of the people, especially in major cities such as HCMC and Hanoi.

Trong said the falling demand for pork and lower live pig prices would force farmers to halt their production.

He suggested that ministries and localities effectively implement the prime minister’s Directive No. 26 on support for the livestock sector to ensure the sufficient supply of meat for the year-end season and the Lunar New Year holiday.

Live-pig prices have edged down over the past few months due to the expansion of pig herds and the increase in pork imports.

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