Pig price continues to increase, reaching 58,000 VND/kg, the structure of the livestock industry has changed.

The price of live pigs today, January 18, in the Southern region increased by the highest 3,000 VND/kg, fluctuating between 50,000 - 53,000 VND/kg.

Pig price today, January 18: Pig price continues to increase, reaching 58,000 VND/kg, the structure of the livestock industry has changed. (Photo: Doc Lap)

Pig price today January 18

* The live pig market in the North recorded an increase of 1,000 - 2,000 VND/kg.

In particular, live pigs in Hanoi are being purchased at the highest price in the region at 58,000 VND/kg after an increase of 1,000 VND/kg.

The provinces and cities including Yen Bai, Lao Cai, Hung Yen, Nam Dinh, Thai Nguyen, Ha Nam, Ninh Binh and Tuyen Quang have live pig prices ranging from 56,000 - 57,000 VND/kg, an increase of 1,000 - 2,000 VND/kg depending on the region.

Today's live pig price in the North is around 56,000 - 58,000 VND/kg.

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

Specifically, after increasing by 1,000 VND/kg, Thanh Hoa province adjusted the price of live pigs to the highest level in the region at 56,000 VND/kg, along with Nghe An.

Live pigs in Quang Ngai, Binh Dinh, Khanh Hoa, Lam Dong, Dak Lak, Ninh Thuan and Binh Thuan are being purchased at prices ranging from 50,000 - 52,000 VND/kg, an increase of 1,000 - 2,000 VND/kg.

Currently, the price of live pigs in the Central and Central Highlands regions ranges from 50,000 - 56,000 VND/kg.

* In the Southern region, the price of live pigs increased by the highest 3,000 VND/kg.

Of which, Tay Ninh and Vung Tau increased by VND 2,000/kg and VND 3,000/kg to VND 52,000/kg and VND 53,000/kg, respectively.

Traders in Binh Phuoc, Dong Nai, Ho Chi Minh City, Binh Duong, Hau Giang, Tien Giang, Tra Vinh and Ben Tre are trading live pigs at VND50,000 - 52,000/kg after an increase of VND1,000/kg.

The price of live pigs in the Southern region today fluctuates between 50,000 - 53,000 VND/kg.

* In a recent report, VNDirect Research said that in 2023, the price of live pigs decreased by 5.2% compared to 2022, down to an average of VND53,700/kg. This price is up to 10.5% lower than the production cost/kg of live pigs of small-scale farmers.

In 2023, live hog prices will be under downward pressure, mainly due to the complicated developments of African swine fever (ASF), causing small-scale farmers to sell off to escape the epidemic, creating pressure on supply while demand remains weak.

In 2023, pork output will remain high. However, there will be a change in the structure of the livestock industry, with the number of small-scale livestock households falling sharply by 50% from 4 million households in 2021 to 2 million households in early 2023, while 3F enterprises (animal feed, farms, food) continue to expand their farm size.

This will help stabilize pork supply in the coming years because 3F farms that comply with barn hygiene and safety are less affected by disease, thereby avoiding the situation of dumping to escape the epidemic in the market.

Forecasting the live hog market in 2024, VNDirect Research expects it to increase by 5% compared to the low base level of 2023, reaching an average of VND 56,400/kg thanks to a 5% increase in pork consumption demand while domestic supply remains stable.

The gradual improvement in the economic situation will stimulate consumer spending. Furthermore, the tourism industry is expected to welcome a large number of international visitors to Vietnam, thereby boosting dining and entertainment activities in 2024.

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