Pork prices in some northern provinces have reached 70,000 VND per kilogram - the highest since the beginning of the year.
According to records from pig farming associations in the three regions, the price of live pigs on September 23 in Phu Tho, Vinh Phuc, Hanoi and Thai Binh reached 70,000 VND per kilogram, an increase of 2,000 VND compared to the previous day.
The price of live pigs in the Central and Central Highlands regions increased by VND1,000, ranging from VND65,000 to VND69,000 per kilogram, depending on the region. In the South, each kilogram of live pigs fluctuated from VND63,000 to VND66,000, with Dong Nai recording the highest price.
This development pushed the price of pork at Hoc Mon wholesale market up compared to the same period in 2023. Specifically, the price of spare ribs increased by 20,000 VND, to 145,000 VND per kg; pork belly increased to 120,000 VND.
In traditional markets in Ho Chi Minh City, pork prices have also increased sharply. Ms. Hanh, a trader at Xom Moi Market (Go Vap), said that each kilogram of meat has jumped to 100,000-180,000 VND per kilogram, an increase of 20-28% compared to the same period last year.
Similarly, a traditional market in Hanoi sells pork at high prices, from 80,000-190,000 VND per kilogram, of which baby back ribs have the highest price, while pork belly ranges from 150,000-170,000 VND per kilogram.
Mr. Thanh, a trader in Dong Nai, said the supply of pigs is decreasing. Every day, the quantity he buys has decreased by 15% compared to the beginning of the year, because many farmers are not restocking their herds due to losses.
In the North, supply is even scarcer. Mr. Nguyen Van Hanh, a trader in Hung Yen province, said that the market supply is very low despite buying pigs at the highest price since the beginning of the year.
Typhoon Yagi and floods caused severe damage to farms, many of which were completely lost or had their barns deeply submerged. According to the Ministry of Agriculture and Rural Development, Typhoon No. 3 and heavy rains killed 26,485 cattle and nearly 3 million poultry. Barns were severely damaged, making herd restoration difficult.
Mr. Nguyen Van Chinh - Ha Nam Livestock and Poultry Wholesale Market Management Board - said that the storm and flood have prevented pig purchasing and raising activities from recovering quickly, so the supply has decreased. At peak times, the number of live pigs coming to the market was about 1,500 a day; now it is only about 1,100-1,200 a day.
In addition to the damage caused by storms and floods, Mr. Nguyen Kim Doan, Vice President of the Dong Nai Province Livestock Association, said the decrease in pork supply was also due to the complicated developments of African swine fever. Many farms have not effectively controlled the disease, causing the spread of the disease. He recommended that authorities strengthen inspection and control of smuggled pigs at the border to protect the domestic livestock industry.
According to forecasts from traders and the Livestock Association, pig prices in the near future may exceed 70,000 VND per kilogram. The reason is not only due to a shortage of supply, but also the price of domestic piglets is increasing. Currently, a 10 kg piglet costs about 2 million VND. If not calculated carefully, pig farmers may face the risk of loss if pig prices continue to fluctuate.
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