April 22, 2024

Live pig prices in Vietnam rose in Q1 2024

Vietnam's live pig prices in the first quarter of 2024 were, on average, up nearly 10% compared to the past three years, according to the Department of Livestock of the country's Ministry of Agriculture and Rural Development.

The price of 6-9kg piglets ranged from ₫1.3-1.5 million (US$50.70-58.50) per head (these are pigs raised by farmers) and ₫1.4-1.7 million (US$54.60-66.30) per head (these are pigs produced by companies) in March. This price increased by ₫50,000 (US$1.95) to ₫100,000 (US$3.90) per head compared to February this year and rose by ₫200,000 (US$7.80) to ₫500,000 (US$19.50) per head compared to the same period last year.

The price of compound feed for finishing pigs was ₫12,382/kg (US$0.48), down by about 0.1%, compared to February 2024.

From the start of 2024, the price of live pigs had increased by about ₫10,000/kg (US$0.39) and continued to increase slightly in the last days of March, before settling at ₫58,000/kg (US$2.26) to ₫62,000/kg (US$2.24), depending on provinces.

Vietnam's live pig price at the end of March and in early April is at about ₫10,000/kg higher than China's.

By comparing the average price of live pigs in the first quarter of the past three years, it can be seen that the average price in 2024's first quarter is nearly ₫5,000/kg (US$0.20) higher (up 9.7%) compared to the same period in 2023.

With the current production cost appearing to range from ₫45,000/kg (US$1.76) to ₫50,000/kg (US$1.95), the current product selling price in Q1 2024 is expected to make pig farmers profitable.

- Ministry of Agriculture and Rural Development (Vietnam)