August 8, 2011

Vietnamese pork prices to decrease 5-7%

Vietnam's pork prices are expected to decline by 5%-7% in the following week, according to the Vietnamese Ministry of agriculture and Rural Development's Livestock Department.

Farmers in many provinces have resumed pig breeding since June and the meat supply for the domestic market is expected to rise by 10-15%, the department said.

From August 1, prices of live pigs decreased by VND2,000-VND3,000 (US$0.097-0.15) in southern provinces to VND57,000-VND58,000 (US$2.77-2.82) per kilogramme while in the northern provinces, live pigs are offered at VND65,000-VND66,000 (US$3.16-3.21) per kilogramme, down by VND5,000-6,000 (US$0.24-0.29) per kilogramme.

Pork prices have doubled from 2010-end and risen between 10% and 20% from end-June, the department added.