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Livestock & Feed Market

July 31, 2018

Vietnam live hog prices down in some regions in June
 
An eFeedLink Exclusive
 
 
Price summary
 
Live hog prices were reduced slightly in some regions compared to last month.
 

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

 

W1

W2

W3

W4

Dong Nai

46,000

45,000

45,000

46,000

Binh Duong

45,000

45,000

46,000

46,000

Can Tho

46,000

46,000

46,000

46,000

HCM

47,000

47,000

48,000

48,000

Hanoi

45,000

46,000

45,000

45,000

(VND1,000 = US$0.0045 as of Jun)

 
 
Market analysis
 
In the north, prices were down VND2,000 per kilogram. Meanwhile, prices in Dong Nai and some other surrounding regions such as Ho Chi Minh and Binh Duong ranged from VND46,000 (US$1.97) to VND48,000 (US$2.06) per kilogram. The price fall could be attributed to demand being lower than supply.
 
In the last six months of the year, live hog prices were on an uptrend due to lowered supply compared to last year. In general, prices were up VND15,000 (US$0.64) to VND16,000 (US$0.69) per kilogram compared to the end of 2017.
 
According to data from the General Statistics Office, up till June 2018, Vietnam's herd size was 26.42 million pigs, down 3% compared to the same period last year.
 
Last month, it was the first time Myanmar opened to Vietnam pork exports. According to the commercial contract between the two countries, Vietnam will export 1 container of 40 feet (approximately 26 tonnes of pork) monthly to the Myanmar market. Export prices are still much higher than local prices. 
 
 
Market forecast
 
According to the Ministry of the Rural Development and Agriculture, current prices are still profitable for farmers. However, farmers are encouraged not to expand production since the market is not yet stable.
 


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