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Market Reports

December 5, 2017
 
Vietnam live hog prices continue downtrend in October
 
An eFeedLink Exclusive
 
 
Price summary
 
Live hog prices continued their downtrend into October.
 

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

 

W1

W2

W3

W4

Dong Nai

34000.00

34000.00

32000.00

32000.00

Binh Duong

32000.00

31000.00

30500.00

30000.00

Can Tho

34000.00

32000.00

28000.00

31000.00

HCM

33000.00

33500.00

32000.00

32000.00

Hanoi

33000.00

31000.00

31000.00

33000.00

(VND1,000 = US$0.045 as of October)
 

Market analysis
 
Hog prices in October fell in many areas across the country due to the sufficient supply. Hog prices in the north fell by the range of VND2,000 (US$0.09) to VND3,000 (US$0.13) per kilogram to reach VND26,000 (US$1.14) to VND29,000 (US$1.28) per kilogram. In the central and highland areas, prices were similarly reduced by the range of VND1,000 (US$0.04) to VND3,000 (US$0.13) to reach VND28,000 (US$1.23) to VND29,000 (US$1.28) per kilogram. Similarly, in the south, pork meat consumption demand was reduced after an incident in which authorities found that pigs were injected by chemicals, resulting in a drop of VND 2,000 (US$0.09) to VND5,000 (US$0.22) per kilogram.
 
According to customs data, in September Vietnam imported about US$0.32 million worth of pork meat, a slight drop of US$0.16 million compared to last month and US$0.85 million compared to the same period last year. For exports, the volume of exported pork meat to other countries only reached US$4.40 million, a decline of US$1.4 million compared to August 2017 and US$4.57 million compared to the same period of 2016. Hong Kong is the biggest importer of Vietnamese pork meat, accounting for 88.04% of market share, or US$3.88 million.
 
 
Market forecast
 
It is forecast that gain in live hog prices is unlikely in the last months of 2017 due to the sufficient supply, while market expansion is facing many obstacles. However, imports might be increased slightly in the future as the taxes for importing pork meat are removed after the EVFTA and AEC are passed. 
 


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