September 25, 2024
Vietnam's live swine prices surge following Typhoon Yagi and flooding
Live swine prices in Vietnam have steadily increased after Typhoon Yagi and subsequent flooding impacted several swine farms across the country, Reuters reported.
This comes as Vietnam continues to face challenges from recent African swine fever (ASF) outbreaks.
Typhoon Yagi, the strongest storm to hit Asia this year, made landfall in Vietnam's northern provinces earlier this month. The storm resulted in the deaths of nearly 300 people and caused damage amounting to VND 60.7 trillion (US$2.47 billion), according to the government's disaster agency.
The agency also reported that over 22,500 farmed animals, including swine, and more than three million poultry were killed due to the storm and flooding.
As a result, live swine prices in northern provinces climbed to between VND 65,000 and VND 70,000 (US$2.46 - US$2.85) per kg, based on data from a Vietnam Ministry of Industry and Trade publication. These prices represent an increase from the pre-typhoon levels of VND 64,000 to VND 67,000 (US$2.61 - US$2.73) and last year's prices of VND 55,000 to VND 58,000 (US$2.24 - US$2.36).
Nguyen Xuan Duong, chairman of the Animal Husbandry Association of Vietnam, stated that the floods may have disrupted pork supply chains, leading some traders to raise live swine prices.
However, Duong emphasised that a pork crisis has not yet emerged, noting that the number of swine lost in the flooding is small in comparison to the country's total swine herd of around 28 million.
In July, the government warned that the ongoing ASF outbreaks could affect Vietnam's food supply and contribute to inflationary pressures.
- Reuters
