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Market Reports

August 30, 2018

Typhoon Bebinca triggers spike in Vietnam live hog prices

An eFeedLink Exclusive
 

Price summary

Live hog prices rose significantly in July.
 

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

 

W1

W2

W3

W4

Dong Nai

48000.00

50000.00

50000.00

50500.00

Binh Duong

48000.00

49000.00

49000.00

50000.00

Can Tho

47000.00

48000.00

47000.00

48000.00

HCM

49000.00

50000.00

50000.00

49500.00

Hanoi

49000.00

50000.00

51000.00

51000.00

(VND1,000 = US$0.043 as of July)
  
Market analysis

In July, live hog prices increased by the range of VND3,000 (US$0.13) to VND5,000 (US$0.21) per kilogram. In some northern provinces, prices were even up to VND56,000 (US$2.40) per kilogram such as in Quang Ninh and Ninh Binh. This figure was up 200% compared to the same period of 2017 and was supposed to be the highest price in many years due to the impact of Typhoon Bebinca which greatly upset the supply and demand situation in July.

In central provinces, prices ranged from VND53,000 (US$2.27) to VND54,000 (US$2.31) per kilogram, up VND3,000 (US$0.13) to VND4,000 (US$0.17) compared to last month.

Typhoon Bebinca spared the south and prices did not increase significantly there. Prices were at VND46,000 (US$1.97) per kilogram in Bac Lieu; VND47,000 (US$2.01) to VND48,000 (US$2.06) per kilogram in Tien Giang; VND50,000 (US$ 2.14) in Dong Nai.

Breeding prices were at a high level in July, ranging from VND1,200,000 (US$51.41) to VND1,500,000 (US$64.26) per piglet of six to seven kilograms. This presents a significant risk for farmers if live hog prices are not maintained at a high level.
 

Market forecast

According to The Ministry of Agriculture and Rural Development, the livestock market will be better from now on to the end of the year as live hog prices have been profitable for farmers since March. This would lead to production expansion and increased supplies.
 


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