With just over a month to go until the Lunar New Year 2025, the pork market is witnessing a sharp increase in prices, reversing the downward trend last year. This increase is due to high consumer demand while supply is facing difficulties.
A survey in Ho Chi Minh City showed that pork prices at retail markets have increased significantly compared to early December. Baby back ribs cost VND180,000-190,000 per kilogram, an increase of VND30,000. Other types of meat such as pork belly and rump also increased by VND20,000 and VND10,000 per kilogram, respectively, with prices ranging from VND120,000-160,000. In some areas such as Hoang Hoa Tham market (Tan Binh), lean pork has reached VND220,000 per kilogram.
Ms. Hanh, a trader at Xom Moi market, said that the price of pork at the wholesale market increases every day, making it impossible to maintain the old price if one wants to make a profit. She said that she has been trying to maintain the selling price for the past week to support consumers, but the import price has increased too much, forcing her to adjust.
The number of pigs arriving at Hoc Mon wholesale market - the main supplier for Ho Chi Minh City - decreased by 1,000 pigs compared to mid-December, to just over 5,000 pigs a day.
According to market representatives, the price of live pigs ranges from 68,000 to 70,000 VND per kilogram, depending on the type. This has led to an increase in the price of pork at wholesale outlets of 10,000 to 20,000 VND per kilogram compared to half a month ago. The sharp decrease in supply due to African swine fever has slowed the herd recovery in many localities, and the cautious mentality of farmers has made the situation even more serious.
Mr. Nguyen Xuan Huy, Deputy General Director of the Joint Stock Company, commented that the total pig herd has been severely affected by the epidemic, and the relocation of barns in Dong Nai according to local policies has also contributed to reducing supply.
Not only is the supply affected, the demand for pork during Tet has increased sharply, pushing up prices. Large food processing enterprises such as Vissan and CP all predict that pork prices will continue to increase in the short term.
Mr. Phan Van Dung, Deputy General Director of Vissan Company, said that the price of live pigs has reached 68,000 VND per kilogram and may increase further. In response, the company has increased its raw material reserves, preparing to supply nearly 930 tons of fresh food and 3,700 tons of processed food, up 5% and 8% respectively compared to last year. Similarly, the Joint Stock Company also committed to ensuring abundant supply, helping consumers feel secure about not worrying about food shortages.
Despite the high pork prices, experts say this is only a short-term trend. Mr. Nguyen Kim Doan, Vice President of the Dong Nai Livestock Association, predicted that the price of live pigs could peak at VND70,000 per kilogram at the peak before Tet, but would level off as processing demand decreases and new batches of pigs are released to the market.
Currently, the total pig herd in the country has reached 26 million, up 2.9% compared to last year. Pork output is expected to be more than 5 million tons, enough to meet Tet consumption demand. Imports of frozen meat from international markets are also being promoted, helping to reduce pressure on domestic supply. Supply is expected to stabilize soon, meeting consumption demand before, during and after Tet.
VN (according to VnExpress)Source: https://baohaiduong.vn/gia-thit-lon-tang-manh-truoc-tet-401750.html
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