November 26, 2007

 

Pork prices up in Vietnam

 

 

Pork prices in Vietnam are on the rise as big enterprises like Sai Gon Agriculture Incorporated (SAI) and Ho Chi Minh City¡¯s leading meat processor Vissan have upped their retail prices of pork by approximately VND10,000 (US$0.6) per kilogramme Saturday (November 24).

 

According to Vietnam News Bridge, the price hike was implemented in an attempt to compensate for the rise in the price of live-weight pork which already increased by 30 percent.

 

Although the price of liveweight pork has climbed up constantly, SAI and Vissan's new price is still 20 percent below the current market price.
 
The SAI has maintained its supply to the market with a total of around 7-10 tonnes of fresh meat per day. It has increased its chicken supply by 30 percent and 10 to 15 percent for beef.
 
Despite the increase, SAI has tried to keep chicken and beef prices stable.
 
Vissan general director Bui Duy Duc said apart from the 18 tonnes of pork supplied to supermarkets, restaurants, private businesses and schools, Vissan also provided the market with 10 tonnes of frozen pork at a 10-15 percent lower than that of fresh pork.
 
Vissan ensures supply of sufficient pork and pork products to meet market demand, he added.
 
Nguyen Thi Hai, who heads Hanoi supermarket, said many distributors have recently called or sent official letters to supermarkets to suggest increasing their prices by 8 to 10 percent.
 
However, Hai said the supermarket's board of directors decided to maintain old prices of meat in the warehouse and will adjust prices for only newly received goods. 

 

Though the volume of goods are still plenty, the supermarket is not sure if stored goods will be available until December as planned due to dealers rushing to buy processed and dried foods to sell during the Lunar New Year holiday.

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