January 18, 2012

During the nine-day Tet holiday, which will start from January 22, CP Group has pledged to boost meat supply to meet demand in Vietnam.

The foreign-invested firm can provide 4,200-4,700 tonnes of pork, 2,500 tonnes of chicken and 12 million of eggs for local market weekly, said Jirawit Rachatanan, the firm's deputy general director said.

With sufficient supply of meat, prices are expected to be stable before and after Tet, Rachanatan noted.

CP is a large firm with annual revenues of US$1.1 billion and ranks at the 23rd among top 500 largest firms in Vietnam, taking 50% of domestic market share for eggs, 40% for chicken, 20% for animal feed and 5% of pork.

Meanwhile, prices of live pigs in south eastern provinces fell to VND47,000-48,000 (US$2.25-2.30) per kilogramme amid large supply. Prices of pork have reportedly decreased in Ho Chi Minh City.