December 13, 2022

Inter-ministerial meeting in Cambodia aims to find solutions for falling local pig prices

A Cambodian inter-ministerial meeting scheduled for December 19 is set to explore solutions for plummeting domestic live pig prices seen in recent weeks, raising hopes among farmers that rates could return to sustainable levels.

Minister of Economy and Finance Aun Pornmoniroth issued a letter, dated December 8, asking top officials of the commerce and agriculture ministries to attend and provide feedback at the meeting to remedy the live-hog price downtrend seen in the past two months.

The letter noted that the meeting is to be held by the Economic and Financial Policy Committee (EFPC) General Secretariat and chaired by finance ministry secretary of state Phan Phalla, and comes in response to requests by the agriculture ministry and the Cambodia Livestock Raisers Association (CLRA).

CLRA president Srun Pov recently mentioned that live pig prices nationwide had fallen sharply in recent months, and are lower than the average per-kg going-rates in Thailand and Vietnam.

Pov attributed the slump in prices to the rapid rises in pig production registered last year amid a breeding frenzy that was spurred on by government initiatives, as the country grappled with the pandemic. This, he noted, resulted in a large number of animals left on the farms.

He also added that unregulated and illegal frozen pork imports have also been pushing down the prices of locally-raised pigs considerably, especially in recent months.

Pov suggested that government intervention could be crucial to guaranteeing the sustainability of the Cambodian pig production sector and that it can ensure 100% food security domestically.

"I'm very pleased that the government is planning to help find solutions for local pig farmers, because if this situation continues, the sector could collapse entirely," he said.

- The Phnom Penh Post