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Saturday, January 28, 2023

Vietnam imports nearly US$190 million of pork in Jan-Oct

The Saigon Times

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HCMC – Vietnam had imported 89,000 tons of pork products worth US$189.02 million in the year to October, contracting over 34% in volume and nearly 40% in value year-on-year, according to the Foreign Trade Agency under the Ministry of Industry and Trade.

In October alone, the country spent some US$26 million purchasing 12,000 tons of pork from abroad, falling over 22% in value and 5.6% in volume against the same period last year.

The country’s pork export volume and turnover in October improved more than 113% and nearly 69% year-on-year at around 1,000 tons and US$5.77 million, respectively. Domestic pork products were mostly shipped to Hong Kong and Laos.

The pork export volume has remained modest compared to the country’s total output due to lower-than-expected capacity in pork processing, supply and demand forecasting, as well as animal disease prevention and control, said the Foreign Trade Agency.

Meanwhile, total costs for pig farming in Vietnam remain higher than the global average, resulting in the domestic prices of Vietnamese pork being less competitive than those of other countries, the agency added.

According to the Department of Animal Health, under the Ministry of Agriculture and Rural Development, Vietnam has yet to set an export quota on pork products. However, there are currently no disease-free pig farming facilities or zones in the country. Also, domestic pork products failed to meet standards set by many foreign markets, leading to a modest export volume of pork products.

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