Source: cafef.vn
As noted by Tien Phong Live hog price on 7/3 continued to drop sharply. In the Northern region, the price of live hog today continued to decrease by 1,000 VND/kg, ranging from 47,000 to 49,000 VND/kg. In which, the lowest purchase price appeared in Yen Bai, Lao Cai and Phu Tho.
In the Central – Central Highlands region, today’s live hog price decreased by 1,000 – 3,000 VND/kg and fluctuated in the range of 47,000 – 50,000 VND/kg. Specifically, after reducing 1,000 VND/kg, the live hog price in Thanh Hoa reached 48,000 VND/kg – on par with Ha Tinh.
Meanwhile, traders in Quang Ngai province adjusted the transaction level down 1,000 VND/kg to 49,000 VND/kg – on par with Binh Thuan after reducing 3,000 VND/kg.
In the southern market, live hog prices decreased slightly by 1,000 VND/kg and fluctuated between 49,000 – 52,000 VND/kg. In which, Dong Nai province adjusted the purchasing price down 1,000 VND/kg to 49,000 VND/kg – the lowest in the region.
Mr. Nguyen Xuan Duong – Chairman of the Vietnam Livestock Association – said that the livestock industry has never encountered “double” difficulties like now when the price of animal feed increased sharply while the price of pork and poultry meat went in the opposite direction. plunge. In 2023, the livestock market showed no signs of recovery, when live hog prices remained low.
Live hog prices continued to fall deeply, making farmers lose money.
According to Mr. Duong, the reason for the sharp drop in live hog prices was due to the high domestic food supply, while people’s purchasing power dropped sharply due to the influence of inflation.
Currently, many businesses are facing difficulties to reduce production scale, forced to reduce labor, pork consumption of industrial parks and restaurants, eateries … decrease accordingly. Not to mention, the trend of Vietnamese people gradually changes from eating less pork, increasing eating chicken, seafood, beef…
“Looking at actual consumption, the price of pork may continue to decline and stay at a low level in the next 2-3 months, then gradually increase on the condition that purchasing power improves when the economy recovers,” Duong said. determined.
According to statistics from Ipsos Strategy 3, a multinational market research firm (based in France), per capita pork consumption in Vietnam is decreasing significantly. In 2018, Vietnam’s pork consumption peaked at about 32 kg/person/year. In 2022, this figure will decrease to about 23.5 kg/person/year and this average consumption is forecast to continue in 2023.
Ipsos Strategy 3 believes that the reason is that people have many choices of alternative sources of animal protein other than pork. Data from Ipsos Strategy 3 from 2018-2022 shows that the consumption of poultry meat of Vietnamese people has increased from 12 kg/person/year to 20 kg/person/year in 2022; beef consumption increased from 0.5 to 0.7 kg to 5 kg/person/year.
According to the Ministry of Agriculture and Rural Development, in 2022 the total pig herd in the country will be about 29 million heads; in which 16 large livestock enterprises maintain about 6 million heads. For the whole year of 2022, the output of live pork for slaughter is estimated at 4.3 million tons, up 3.6% compared to 2021
In the opposite direction, imported pork tends to decrease. In 2022, the whole country spent about 1.35 billion USD importing meat and meat products, including more than 110 thousand tons of pork, worth more than 220 million USD, down 8.6% in volume, but up 4.8. % in value over the same period in 2021.
In January 2023, Vietnam imported 35.4 thousand tons of meat and meat products, worth $74 million, down 45.7% in volume and 45.4% in value compared to December/ 2022; and down 34% in volume and 35% in value over the same period last year.
