Pig prices continue to rise, decoding the reasons why domestic prices are difficult to increase

The price of live pigs today, January 12, in the Central and Central Highlands regions increased from 1,000 VND/kg to 2,000 VND/kg, fluctuating between 49,000 - 51,000 VND/kg.

Giá heo hơi hôm nay 14/10 (Nguồn: Vnxpress)

Pig price today, January 12: Pig price continues to rise, explaining the reason why domestic prices are difficult to increase. (Source: Vnxpress)

Pig price today 12/1

* The live pig market in the North recorded scattered increases in a few places.

Specifically, after increasing by 1,000 VND/kg, the provinces and cities of Hung Yen, Phu Tho, Thai Binh and Hanoi all adjusted the price of live pigs to 53,000 VND/kg.

This is also the purchase price recorded in Bac Giang after increasing by 2,000 VND/kg.

Today's live pig price in the North is around 51,000 - 53,000 VND/kg.

* Pig prices in the Central and Central Highlands regions increased from VND 1,000/kg to VND 2,000/kg.

Of which, traders in Quang Tri, Khanh Hoa and Dak Lak are purchasing live pigs at 49,000 VND/kg, a slight increase of 1,000 VND/kg.

Live pigs in Ha Tinh are being traded at the highest price in the region at VND51,000/kg after increasing by VND2,000/kg, along with Nghe An.

Currently, the price of live pigs in the Central and Central Highlands regions is around 49,000 - 51,000 VND/kg.

* In the Southern region, the price of live pigs has not changed much.

Currently, traders in most provinces and cities are purchasing live pigs at prices unchanged from yesterday.

Soc Trang province alone adjusted the transaction price to 50,000 VND/kg, an increase of 1,000 VND/kg.

The price of live pigs in the Southern region today fluctuates between 49,000 - 51,000 VND/kg.

* The Department of Animal Husbandry (Ministry of Agriculture and Rural Development) recently reported an overview of pig farming in 2023, noting that the price of live pigs sold for slaughter last year continuously decreased, at times falling below the production cost, causing farmers to have no profit or even suffer losses.

According to the Department of Animal Husbandry, the supply of pork from businesses and farms increased, especially in September - November. Meanwhile, people's purchasing power for food decreased compared to before, causing the price of live pigs to continuously decrease.

"In 2023, pig farming will still be the main livestock sector, accounting for over 62% of the total output of fresh meat of all livestock. Pig farming will develop stably in the context of household farming shifting strongly to semi-industrial, linking with businesses; chain-based farm farming, bio-security, disease safety and increased application of advanced technology," the Department of Information informed.

By the end of 2023, the total pig herd is estimated to reach over 26.3 million (not including about more than 4 million piglets with their mothers), an increase of 4.2% over the same period in 2022. Accordingly, 2023 is the year with the highest total pig herd in the past 5 years.

According to the Department of Livestock Production, one of the factors that makes it difficult for domestic pig prices to increase is the continuous increase in imported pork and pork by-products in the second half of 2023. In 2023, Vietnam imported about 116,000 tons of pork, accounting for 3% of total pork consumption.

In addition, Vietnam imported about 122,450 tons of edible by-products from pigs, an increase of 76.7% compared to 2022.

Source