Meat exports to increase again in Q3/2023

Vietnam strives to export pork to Malaysia and China. Which markets import a lot of meat and meat products from Vietnam?

The Import-Export Department (Ministry of Industry and Trade) cited data from the General Department of Vietnam Customs, saying that in the third quarter of 2023, Vietnam exported 5.78 thousand tons of meat and meat products, worth 28.37 million USD, up 27.4% in volume and 19% in value compared to the second quarter of 2023; compared to the third quarter of 2022, up 45% in volume and 33.9% in value.

Xuất khẩu thịt và sản phẩm thịt còn rất khiêm tốn

Exports of meat and meat products are still very modest.

Vietnam's meat and meat products are mainly exported to countries in the Asian region, of which the largest export is to the Hong Kong market (China), accounting for 40.48% in volume and 49.88% in value of the total export of meat and meat products of the whole country, reaching 2.34 thousand tons, worth 14.15 million USD, up 13.7% in volume and up 12.6% in value compared to the second quarter of 2023; compared to the third quarter of 2022, up 28% in volume and up 46.5% in value.

By the end of the third quarter of 2023, Vietnam exported 16,160 tons of meat and meat products, worth 77.85 million USD, up 28.4% in volume and 39.3% in value over the same period in 2022.

In the third quarter of 2023, the main types of exported meat and meat products include: Fresh, chilled or frozen pork (mainly frozen whole suckling pigs and frozen whole pigs) exported to the Hong Kong market (China); other meat and edible meat by-products after slaughter of other animals; fresh, chilled or frozen meat (mainly frozen frog meat) exported mainly to Belgium, the United States, France, Canada, etc.

Fresh, chilled or frozen poultry meat and edible by-products (mainly frozen chicken feet) are mainly exported to China. Notably, except for poultry meat and edible by-products, exports of all meat and meat products increased sharply compared to the same period in 2022.

In the domestic market, in the third quarter of 2023, the price of live pigs increased at the beginning of the quarter, but by the end of the third quarter of 2023, the increase began to weaken, after which the price of pork decreased and remained stable. The average price of live pigs nationwide continued to decrease in October 2023.

Meanwhile, beef and chicken prices (colored feathers) remained stable, with little change compared to the previous quarter. Pork production increased, while weak market demand and the complicated epidemic situation caused pork prices to fall again.

Purchasing power has not improved much due to people saving on spending. Currently, domestic livestock supply and demand are generally quite balanced, meeting domestic consumption needs. It is forecasted that from now until the end of the year, pork prices will be at a level that is suitable for both farmers and consumers. Pork consumption in the last months of the year may improve when entering the holiday season.

In October 2023, the price of live pigs across the country fluctuated strongly, prices decreased in the first 20 days of the month, then increased slightly again in the last few sessions, but still decreased compared to the end of last month. Currently, the surveyed price in provinces and cities fluctuates between 50,000 - 54,000 VND/kg.

Specifically, the current price of live pigs in the Northern region fluctuates between 52,000 - 54,000 VND/kg, down 1,000 - 2,000 VND/kg compared to the end of last month. In the Central, Central Highlands and Southern regions, the price of live pigs fluctuates between 50,000 - 54,000 VND/kg, down 2,000 - 5,000 VND/kg compared to the end of last month.

Recently, the US Department of Commerce forecasts that Vietnam's pork output in 2024 will increase by 5% compared to 2023, reaching 3.7 million tons thanks to the recovery of domestic demand as economic activities accelerate again, improved livestock activities due to increased investment and consolidation in the livestock industry.

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