Pig prices do not record new fluctuations, forecast for Vietnam's output in 2024?

The price of live pigs today, October 23, in the Northern region is calm, fluctuating between 48,000 - 53,000 VND/kg.

Giá heo hơi hôm nay 7/6 (Nguồn: CP Food)

Pig price today, October 23: Pig price has not recorded any new fluctuations, Vietnam's pork output is expected to increase. (Source: CP Food)

Pig price today 10/23

* Pig prices in the Northern region are quiet.

In which, Ninh Binh province continues to trade at the lowest level in the region at 48,000 VND/kg.

In addition, live pigs in Hung Yen are traded at 53,000 VND/kg. Other localities purchase at prices ranging from 49,000 - 52,000 VND/kg.

Today's live pig price in the North is between 48,000 - 53,000 VND/kg.

* Pig market prices in the Central and Central Highlands regions have stagnated.

Specifically, Ninh Thuan and Binh Thuan provinces continue to purchase live pigs at VND47,000/kg. At the same time of the survey, the price range recorded in the remaining provinces was VND48,000 - 50,000/kg.

Currently, the purchase price of live pigs in the Central and Central Highlands regions is around 47,000 - 50,000 VND/kg.

* Pig prices in the South have not recorded any new fluctuations.

Currently, Ca Mau province continues to trade at 53,000 VND/kg, the highest in the region. Other localities continue to purchase at prices ranging from 48,000 VND/kg to 52,000 VND/kg.

The price of live pigs in the Southern region today is between 48,000 - 53,000 VND/kg.

* In the latest report of the United States Department of Agriculture (USDA), global pork production in 2024 is forecast to be at the same level as in 2023. At the same time, international trade in pork products is forecast to be more positive but consumption demand may decrease slightly.

Specifically, world pork production in 2024 is expected to be 115.5 million tons, similar to 2023 levels, mainly due to lower production in the European Union (EU) and China. However, production in Brazil, Vietnam, and the United States is expected to increase, helping to partially offset the decline.

In the EU, pork production is expected to decline by 2% in 2024 compared to 2023, to 21.2 million tonnes. Pig producers in the EU continue to face major challenges in controlling African swine fever (ASF), which has led to a decline in herd size and exports to some markets.

In China, pork production is forecast to fall 1% to 55.9 million tonnes in 2024 as weak domestic demand has left the industry in heavy losses for much of 2023, prompting farmers to scale back operations. Meanwhile, China’s pork imports are forecast to rise 1.1% to 2.3 million tonnes in 2024.

In Brazil, pork production is expected to increase by 4.9% to 4.83 million tons in 2024. At the same time, the country's pork exports are forecast to increase by 5.5% to 1.53 million tons.

In Vietnam, USDA forecasts that pork production in 2024 will increase by 5% to 3.7 million tons thanks to the recovery of domestic demand as economic activities accelerate again, improved livestock production due to increased investment and consolidation in the livestock industry.

Source