Pig price hits rock bottom, market expected to reach 60,000 VND/kg

The price of live pigs today, October 28, in the North recorded a decrease of 1,000 - 2,000 VND/kg across the board, fluctuating between 51,000 - 53,000 VND/kg.

Pig price today October 28: Pig price has hit rock bottom, market is expected to reach 60,000 VND/kg. (Source: MEAT Deli)

Pig price today October 28

* The live pig market in the North recorded a decrease of 1,000 - 2,000 VND/kg across the board.

Accordingly, after reducing 1,000 VND/kg, traders in Bac Giang, Lao Cai, Hung Yen, Thai Binh, Ha Nam, Hanoi, Ninh Binh and Tuyen Quang are purchasing live pigs at around 51,000 - 53,000 VND/kg.

Yen Bai, Thai Nguyen, Phu Tho and Vinh Phuc provinces decreased by 2,000 VND/kg, currently hovering around 51,000 - 52,000 VND/kg, depending on the region.

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 decreased by VND 1,000/kg in some places.

Specifically, the two provinces of Quang Nam and Quang Ngai both brought the price of live pigs to 52,000 VND/kg.

The remaining provinces maintained purchase prices unchanged compared to yesterday.

Currently, the price of live pigs in the Central and Central Highlands regions is around 50,000 - 52,000 VND/kg.

* In the Southern region, pig prices have no new fluctuations.

Currently, the lowest transaction price in the region is 50,000 VND/kg, recorded in Binh Duong and An Giang.

Meanwhile, live pigs in Ca Mau continue to be traded at the highest price in the region at 54,000 VND/kg.

The price of live pigs in the Southern region today fluctuates between 50,000 - 54,000 VND/kg.

* Mr. Nguyen Tri Cong, Chairman of Dong Nai Livestock Association, commented that the price of 47,000 VND/kg in the past time was the bottom. The market expects that the price of live pigs from now until New Year's Day and Lunar New Year can recover to 60,000 VND/kg. This price is enough to restore production and be in harmony with farmers. However, we cannot expect the price of live pigs to increase dramatically like in previous years because it depends on the speed of economic recovery.

In addition, the Government has recently issued a support policy for pigs culled due to African swine fever, which will help improve the psychology of farmers and reduce the situation of selling pigs early to escape the epidemic. This will help reduce the pressure on supply and prices in the coming time.

Specifically, the Government Office has just sent an Official Dispatch to the Ministry of Agriculture and Rural Development, the Ministry of Finance, and People's Committees of provinces and cities on supporting livestock farmers suffering losses due to African swine fever (ASF) and lumpy skin disease.

In the Official Dispatch, Deputy Prime Minister Tran Luu Quang requested ministries and People's Committees of provinces and cities to support livestock farmers suffering losses due to ASF and lumpy skin disease in accordance with the provisions of Decree 02/2017 until the Decree regulating mechanisms and policies to support the prevention and control of animal diseases is issued and takes effect.

Accordingly, the budget will directly support households whose livestock must be destroyed due to disease or in epidemic areas where they must be destroyed. The support level is 38,000 VND/kg of live weight for pigs and 45,000 VND/kg of live weight for buffaloes and cows.

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