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Market Reports

December 20, 2017

Vietnam live hog prices improve from October

An eFeedLink Exclusive
 

Price summary

In November, live hog prices edged up from October.
 

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

 

W1

W2

W3

W4

Dong Nai

33,000

32,500

31,000

32,000

Binh Duong

31,000

32,000

32,000

31,000

Can Tho

31,000

31,000

31,000

31,000

HCM

34,000

34,000

32,500

33,500

Hanoi

33,000

33,000

33,500

33,000

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

 
 
Market analysis

Live hog prices across the whole country rose slightly from October by the range of VND1,000 (US$0.045) to VND2,000 (US$0.090) per kilogram, reaching about VND30,000 (US$1.32) to VND34,000 (US$1.49) per kilogram. However, prices were still lower about VND2,000 (US$0.090) to VND4,000 (US$0.18) per kilogram compared to September 2017.

Provinces in the northern region, including Hanoi, Thai Binh, Quang Ninh, Hung Yen and Bac Giang, had the highest hog prices, being in the range of VND28,000 (US$1.23) to VND33,000 (US$1.45) per kilogram. In Dong Nai, recognised as being the capital for raising pigs and chickens in the Southeast region, live hog prices were in the range of VND29,000 (US$1.27) to VND33,000 (US$1.45) per kilogram.

For the year-end period, pig prices would normally rise, driven by Tet holiday (to fall in February 2018) demand. However, the situation this year is different, with prices generally unchanged.

According to data from the General Statistics Office, as of October 1, 2017, Vietnam's pig herd size was estimated at 27.3 million head, a reduction of 6.2% compared to the same period last year.
 

Market forecast

Domestic prices of live hog are still at a relatively low level and the pace of consumption is very slow. Compared to the last few years, the live hog market appears to be very dim in 2017. Although the Tet holiday is approaching, prices are forecast not to increase sharply as usual.
 


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