July 21, 2011

Prices of Vietnamese meat to remain unstable

The prices of Vietnamese meat in the country's domestic market will not stabilise in the near future, according to experts.

During a meeting in Ha Noi on July 18, ministries discussed strategies to reduce the cost of produce.
 

Deputy Director of the Cultivation Department Pham Dong Quang said that in recent weeks, the prices of vegetables and meat had increased by 20-30% in Ha Noi and Hai Phong and by 10-20% in southern cities and provinces.

Prices of pork, beef, and poultry surged due to a lack of supply, head of the Animal Husbandry Department, Hoang Kim Giao, said. At present, pork prices have climbed by 70% due to high demand.

The Government should attempt to control the prices of meat and feed to avoid a further increase, said Tran Thi Mieng, deputy head of the Farming, Forest and Seafood Processing and Trade Department.

The Ministry of Industry and Trade and the State Bank must support preferential interest rates and loans for veterinary projects, she said.

Cao Duc Phat, Minister of Agriculture and Rural Development, said the ministry would closely follow the supply and demand of meat and vegetable markets to find the solution.