Will pig prices continue to increase?

The price of live pigs today, October 22, in provinces and cities across the country fluctuates between 47,000 - 53,000 VND/kg.

Pig price today June 16 (Source: Cooky)

Pig price today 10/22

The live pig market in the North has adjusted inconsistently by 1,000 - 2,000 VND/kg.

Accordingly, the provinces of Yen Bai, Lao Cai, Nam Dinh, Phu Tho and Ha Nam all reduced by 1,000 VND/kg to a common level of 49,000 VND/kg.

With the same decrease, Thai Nguyen, Hanoi and Tuyen Quang have live pig prices anchored at 50,000 VND/kg.

After a reduction of VND2,000/kg, traders in Ninh Binh and Bac Giang are purchasing live pigs at VND48,000/kg and VND50,000/kg, respectively.

On the other hand, live pigs in Vinh Phuc, Thai Binh and Hung Yen are being purchased at prices ranging from VND51,000/kg to VND53,000/kg, an increase of VND1,000 - VND2,000/kg, depending on the region.

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

* Pig prices in the Central and Central Highlands regions decreased from VND1,000/kg to VND4,000/kg last week.

Of which, live pigs in Ha Tinh, Quang Tri, Quang Nam and Khanh Hoa are being purchased at 49,000 - 50,000 VND/kg, down 1,000 VND/kg.

Similarly, after decreasing by VND2,000/kg, the price of live pigs in Thanh Hoa, Quang Binh, Thua Thien Hue, Quang Ngai, Binh Dinh, Lam Dong and Dak Lak was adjusted to VND48,000 - 50,000/kg, depending on the region.

47,000 VND/kg is the lowest transaction price in the region recorded in Binh Thuan and Ninh Thuan, down 4,000 VND/kg.

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

* In the Southern region, pig prices mainly decreased.

Accordingly, the provinces and cities including Ho Chi Minh City, Binh Duong, Tay Ninh, Long An, An Giang, Vinh Long, Hau Giang and Tra Vinh all reduced by 2,000 VND/kg, currently the transaction price is in the range of 49,000 - 50,000 VND/kg.

The price of live pigs in Binh Phuoc, Vung Tau, Dong Thap and Dong Nai after decreasing by 3,000 - 4,000 VND/kg is 48,000 - 49,000 VND/kg, depending on the area.

Meanwhile, Kien Giang and Soc Trang increased slightly by VND1,000/kg, respectively at VND49,000/kg and VND51,000/kg.

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

* Mr. Pham Kim Dang, Deputy Director of the Department of Animal Husbandry (Ministry of Agriculture and Rural Development) said that despite economic difficulties, being heavily affected by Covid-19, the conflict between Russia and Ukraine, causing supply disruptions, the livestock industry has still achieved stable growth of 4.5 - 6% over the past 5 years. In livestock farming, there are 3 very important pillars, including breeding animals, feed and environment.

Regarding breeding animals, Mr. Dang affirmed that domestic breeding production capacity can meet the demand. Regarding animal feed, currently, the country has 269 facilities producing complete mixed industrial animal feed with a total designed capacity of 43.2 million tons.

Annual animal feed production is about 20-21 million tons, but it still depends heavily on imported raw materials. There was a time when the price of animal feed production increased, but now it has decreased significantly.

In the first 9 months of 2023, livestock and poultry herds generally developed stably. Except for the buffalo herd, which continued to decrease compared to the same period in 2022, other livestock herds increased in number compared to the same period in 2022. With the current growth rate, if there are no special problems, the livestock industry will ensure food supply in the last months of 2023.

In the first 9 months of 2023, the prices of livestock products fluctuated greatly, but the prices of food in the market did not fluctuate much. Therefore, it can be seen that profit sharing is not guaranteed.

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