Pork prices "dance", consumers suffer

Pork prices have increased by 20-30% compared to the beginning of the year. This is a very popular item because it is a familiar food, so the price increase has a strong impact on people's lives.

At supermarkets, despite applying price stabilization measures, prices are still pushed up due to a shortage of supply.

Pork prices keep "dancing"

Regularly buying pork for daily meals, in recent days, Ms. Nguyen Minh Hoa (Cau Giay, Hanoi) could not help but feel "dizzy" when the price increased day by day. Ms. Hoa tiredly said: "Just not long ago, the price of good pork such as spare ribs, belly... was only 110,000-115,000 VND/kg, now it has increased to 140,000 VND, sometimes it increased to 160,000 - 180,000 VND/kg. My family mainly uses pork for daily meals, now it has increased like this, I don't know how to adjust it appropriately".

Also feeling “dizzy” when going to the market these past few days, Hoang Minh Huyen (a third-year student at Hanoi Pedagogical University) said that the prices of goods are increasing every day, with pork prices fluctuating the most.

“Before, we used to buy pork belly, ribs, pig feet... but these days they are so expensive, up to 140,000 VND/kg, so we have to choose cheaper parts like rump, head... But these are also up to 120,000-130,000 VND/kg. I don't know if the increase in salary has caused the increase in pork price or not, but we are students, this price increase is really difficult", Huyen shared.

Pork prices at the market are already high, and even higher in supermarkets. When she browsed through the pork prices here, she felt dizzy because every type was expensive. Ms. Nguyen Minh Hoa shared that at the supermarket, pork belly without ribs costs 280,000 VND/kg, baby back ribs cost up to 300,000 VND/kg, ground meat also costs 150,000 VND/kg... In the past, when she was busy, she could buy meat at the supermarket near her house for convenience, but now, she has to go to the market to save money.

Pork is one of the foods that has increased in price very high in recent days. Recorded at traditional markets, the price of pork belly ranges from 140,000-160,000 VND/kg, baby back ribs from 150,000-180,000 VND/kg, lean shoulder, rump, and ham hock cost 130,000-140,000 VND/kg... Compared to the beginning of this year, the price has increased by 20-30%.

On the website of Vissan - a large pork business and distribution unit in our country, VietGAP skinless pork belly is listed at 210,000 VND/kg, ribless pork belly at 280,000 VND/kg, baby back ribs at 300,000 VND/kg, ribs at 200,000 VND/kg, lean thigh at 165,000 VND/kg, ground lean meat at 150,000 VND/kg...

Sharing about the pork price situation, experts said that, in addition to the mentality of "following the flow" when wages increase, the high price of pork is also due to limited supply. Mr. Nguyen Tri Cong, Chairman of Dong Nai Livestock Association, informed that preliminary survey results of small-scale livestock households and large enterprises showed that the pig herd nationwide has decreased by 30-40%, in some places by up to 70%.

Last year, the price of live pigs dropped sharply and remained at a very low level, causing farmers to suffer heavy losses for a long time. On this occasion, African swine fever raging again in many localities, farmers are worried and do not dare to re-herd. This is the reason why the supply to the market has decreased significantly, pushing up the price of pork despite the market being in the lowest consumption season of the year.

In supermarkets, pork prices are higher than market prices because they use goods with clear origins and must meet strict food safety and hygiene criteria. However, according to a representative of the MM Mega Market supermarket chain, prices have now increased by more than 20% because since last month, the input price of live pigs has increased by 27%.

Regarding imports, due to limited domestic supply, pork imports are increasing again. According to the General Department of Customs, in May 2024, Vietnam imported 76.12 thousand tons of meat and meat products, worth 139.96 million USD, up 32.1% in volume and 28.6% in value compared to May 2023. This is the 5th consecutive month that the amount of imported meat and meat products has increased compared to the same period in 2023.

In the first 5 months of 2024, Vietnam imported 304,850 tons of meat and meat products, worth 596.93 million USD, up 29% in volume and 25.2% in value over the same period in 2023.

However, consumer In general, imported frozen pork is not preferred for daily meals, but this type of meat is often used for restaurants and collective kitchens.

Will pork prices only fall next year?

The Ministry of Agriculture and Rural Development forecasts that pig supply will increase again in the coming time. However, due to the complicated epidemic situation, pig prices may remain high and only decrease again in 2025.

According to experts, the price of live pigs may remain at the current level until the end of 2024 because small-scale farmers have just started to restock after the African swine fever outbreak in 2023 and there will be new supply to the market at least until December. This will directly affect the price of pork sold on the market. In addition, the "follow the flow" mentality will also affect the price of pork in the coming time when wages have just been adjusted to increase.

Not to mention, currently, because students are on summer vacation, collective kitchens have reduced their demand for pork. In a while, when students return to school, demand will increase, and prices will go up even more.

Pork is currently the food that accounts for an overwhelming proportion in the daily food consumption basket of Vietnamese people.

According to statistics from the Ministry of Agriculture and Rural Development, pork accounts for 65-70% of the meal structure of families, while poultry accounts for only 15-20%, the rest is beef and seafood. Therefore, the "dancing" price of pork is directly affecting the meals of millions of Vietnamese families.

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