December 9, 2022

Vietnam imported US$189.02 million worth of pork so far this year

Vietnam's Foreign Trade Agency of the Ministry of Industry and Trade said Vietnam imported 89,000 tonnes of pork products worth US$189.02 million so far this year, 34% lower in volume and nearly 40% in value year-on-year, Vietnam Net reported.

In October 2022, the country spent approximately US$26 million to import 12,000 tonnes of pork, 22% lower in value and 5.6% in volume compared to the same period last year.

Vietnam's pork export volume and turnover increased by more than 113% and nearly 69%, respectively, to around 1,000 tonnes and $5.77 million in the same month. The majority of domestic pork products were shipped to Hong Kong and Laos.

Vietnam's Foreign Trade Agency said the pork export volume has remained modest in comparison to the country's total output due to lower-than-expected capacity in pork processing, supply and demand forecasting, as well as animal disease prevention and control.

Total costs for swine farming in Vietnam remain higher than the global average, making Vietnamese pork less competitive compared to other countries, the agency said.

Vietnam has yet to set an export quota for pork products, according to the country's Ministry of Agriculture and Rural Development's Department of Animal Health. However, Vietnam currently lacks disease-free swine farming facilities or zones. Furthermore, domestic pork products failed to meet the standards set by many foreign markets, resulting in a small volume of pork product exports.

-      Vietnam Net