August 10, 2023

Live pig prices fall again in Tây Ninh, Vietnam, following increase




Vietnam's live pig prices have dropped significantly yet again in the provincial city of Tây Ninh following a period during which live pig prices increased by over ₫60,000/kg (US$2.52).


According to some traders in Tây Ninh, in the period from mid-July to the first days of August, live hog prices continuously decreased due to supply from large farms and meat imported from Thailand.


They also pointed out that demand for pork products decreased sharply due to economic difficulties and consumers cutting back on spending. Additionally, demand for pork consumption in industrial zones and 'collective kitchens' has decreased as companies reduce their workforce. As the year-end approaches, pork demand could increase, but pork prices might not follow suit, as large farms are gradually increasing their numbers.


For over two years, feed prices have consistently increased, causing livestock farmers to face difficulties when the selling prices for various livestock plunged significantly.


Quoc, an owner of a pig farm in Tan Chau district, said that raising a pig from birth to slaughter will cost about nine bags of mixed feed. Previously, the cost was about ₫2.9-3.2 million, including all expenses.  The total cost of each pig at the time of slaughter is now about ₫3.8 million (US$159.60).


However, with the currently high price of animal feed, the cost of each pig when released from the barn is actually more than ₫5.5 million/head (US$231), excluding wages and utility costs.


According to some animal feed distributors in Tây Ninh, in the past two years, animal feed prices have increased 13 times, with each increasing from ₫200-350/kg (US$0.01-0.02).


- Tây Ninh Online

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