June 15, 2011

 

Pork prices in Vietnam rise again despite sufficient supplies

 

 

The prices of pork and chicken meat across Vietnam has risen again after the hike in April, surprising consumers and small traders due to low demand and adequate meat supplies.

 

Pork in markets throughout Ho Chi Minh City now costs VND100,000-130,000 (US$50-US$65) per kilo. Traders said chicken and fish prices have also shot up.

 

Livestock farmers in the southeastern region said that pig prices soared in April due to a supply shortage caused by disease.

 

A wholesale trader in Hoc Mon Market said farmers tend to sell pigs to the northern market, where prices are higher than in Ho Chi Minh City by up to VND10,000 (US$0.50) per kilogram, and this great demand from the north enables southern farmers to hike up pig prices.

 

Hoang Kim Giao, head of the municipal Animal Husbandry Department, confirmed there is no supply shortage of pork at present. He attributed the hike to the price increase of cattle and poultry meat in neighboring countries.

 

But high prices would also encourage some livestock farmers to restart their work after the disease outbreak last year, he said.

 

However, some livestock farmers said they do not earn much profit from the price hike.

 

After many disease outbreaks and rising cattle feed prices, many small livestock farmers have given up the field, leaving it to foreign invested firms, which are holding most of the market share of the domestic livestock farming industry thanks to their professional farming techniques.

 

The municipal Veterinary Department said foreign invested firms account for 70-80% of the 9,000 pig slaughtered everyday in HCM City.

 

Thanh, who runs a pig farm in Dong Nai Province's Bien Hoa City, said with the current price, every pig that weighs 100 kg could earn a profit of VND2-3 million (US$97,000-US$145,000).

 

"The profit is big, but it all goes to foreign firms," he said.

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