The average price of live pigs nationwide is 66,600 VND/kg. This price is quite different from other countries in the region, 13,000 - 14,000 VND/kg higher than China, Thailand, and Cambodia.
The live pig market continued to increase in all three regions on December 24. According to a survey, the price of live pigs nationwide fluctuated from 63,000 to 69,000 VND/kg. In the North, the price of live pigs increased by 1,000 VND in Vinh Phuc, Phu Tho, Hai Duong, Hung Yen and Nam Dinh, all reaching 69,000 VND/kg, the highest in the country.
The average price of live pigs nationwide is 66,600 VND/kg. This price is quite different from other countries in the region, 13,000 - 14,000 VND/kg higher than China, Thailand, and Cambodia.
Mr. Nguyen Ngoc Son - Permanent Vice President of Vietnam Animal Husbandry Association - said that usually on holidays, During Tet, the price of live pigs will increase by 10-15% compared to normal pork prices. The price of live pigs may increase to more than 70,000 VND/kg near Tet. The sharp increase in live pig prices combined with reduced production costs will help farmers make big profits at the end of the year with a profit of 1.5-1.9 million VND/pig sold.
According to the Dong Nai Livestock Association, many farmers nationwide are hesitant to restock due to concerns about disease. This has resulted in a daily supply of live pigs not being as abundant as the same period last year, pushing up prices sharply. The reduced supply could push the price of live pigs to a new peak in the coming weeks, reaching VND71,000/kg.
Currently, Dong Nai supplies the market with about 6,000 pigs per day, which will increase from 8,000 - 10,000 pigs per day near Tet.
Mr. Phung Duc Tien - Deputy Minister of Agriculture and Rural Development - said: "The total pig herd in the country as of November this year increased by 3.5% compared to the same period last year. The high price of live pigs has "supported" large-scale businesses, farms and small-scale households to restore and expand their herds."
Many experts predict that the price of live pigs in Vietnam will remain high in early 2025. The main reason comes from the decline in herds globally, especially in countries that raise and process large quantities of pigs such as China and countries in the European Union (EU), while Vietnam will likely increase production.
Specifically, in the Livestock and Poultry 2025 report, the US Department of Agriculture (USDA) forecasts that global pork production next year will decrease to 115.1 million tons, with sharp declines in China and the EU.
China's pork output is forecast to fall 2% to 55.5 million tonnes due to a decline in sow numbers and demand. pork weakened. The EU also faces a 2% drop in production, to 20.9 million tonnes, due to lower pig prices and other factors that negatively impact the livestock sector.
Meanwhile, countries such as the United States, Vietnam and Brazil are expected to increase production by 2025. Vietnam’s pork output is expected to increase by 3% to 3.8 million tonnes thanks to herd expansion and the control of African swine fever (ASF). Brazil is also forecast to increase production by 1% to 4.6 million tonnes thanks to strong exports and lower input costs.
The decline in production in major global markets could cause volatility in hog prices, especially as export demand continues to grow. Global pork exports are forecast to increase by 1% by 2025.
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