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Asia

June 30, 2017

Rising prices offer Vietnamese hog market glimmer of hope

An eFeedLink Exclusive
 

Price summary

Live hog prices were up slightly in May.
 

Procurement price of live hog over 80kg (Expressed in VND 1,000/kg)

 

W1

W2

W3

W4

Dong Nai

24000

26000

25500

27000

Binh Duong

23000

24500

25000

25000

Can Tho

22000

25000

25000

25000

HCM

25000

25500

27000

27500

Hanoi

25000

23000

25000

25000

(VND1,000 = US$0.045 as of May)

 

Market analysis

According to the Ministry of Agriculture and Rural Development, up to May 18, 200,000 tonnes of pork had been consumed after the Ministry launched the programme "Pork Rescue" to help farmers. In addition, the increased demand from Guangxi province in China also contributed to the price increase. Pork prices rose significantly in the range of VND2,000 (US$0.09) to VND8,000 (US$0.35) per kilogram across the country and are expected to continue to increase. This is a good signal to mean reduced losses for farmers. Specifically, hog prices in Dong Nai increased VND3,000 (US$0.13) per kilogram compared to the beginning of the month, reaching VND27,000 (US$1.17) per kilogram; in Can Tho prices increased VND3,000 (US$0.13) to reach VND25,000 (US$ 1.10) per kilogram.

However, retail prices at markets and supermarkets remained at a low level, encouraging pork consumption.

According to custom data, the value of imported hog meat in April reached US$0.97 million, down US$0.47 million compared to March 2017. For exported hog meat, its value reached US$5.35 million, down 43.45% compared to March 2017 and 6.84% compared to same period last year.
 

Market forecast

Based on the latest statistics, there are about 1.5 million pigs in stock. Pork consumption is expected to increase in June although prices are stepping up in some regions at the moment.
 


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