Price of pork increases as Tet nears, the Ministry of Industry and Trade wants to facilitate imports

	Vietnamese pork imports witness surge of 460%
	Supply-demand of pork: Ensuring stabilization of prices by fourth quarter
	Thailand moves to reduce pork exports to Vietnam

Before the Lunar New Year, the price of pork has increased, but it is certainly not as sudden as in 2020. Photo: Nguyen Thanh

As Tet nears, pig price rises

According to the Department of Agro-Processing and Market Development (Ministry of Agriculture and Rural Development), in January 2021, the price of live pigs in all areas of the country had a slight increase compared to the previous month. In the North, the pig price fluctuated slightly from VND84,000 to VND87,000/kg.

The price of live pigs in the Central and Central Highlands increased slightly by VND2,000-3,000/kg compared to the previous month, ranging from VND76,000 to VND80,000/kg.

Specifically, the highest prices are in Thanh Hoa and Nghe An, at VND80,000/kg, the lowest prices are in Dak Lak with VND76,000/kg. The prices of live pigs in other localities in the region is at VND75,000 - 78,000/kg.

It is forecasted that the domestic live hog price will increase slightly in a cyclical way due to increased demand during Tet. In addition, the price of live pigs remains unchanged due to the recent increase in feed costs.

Mr. Nguyen Van Trong, Deputy Director of the Department of Livestock Production (Ministry of Agriculture and Rural Development), said that in 2020, the rate of regrowth of pigs was very strong, especially in large enterprises. Total pork herds of 16 large livestock enterprises currently have 5.5 million heads, an increase of 175% compared to the beginning of the year.

In addition, many large breeding provinces also have a strong rate of re-herding such as Binh Phuoc, Dong Nai. Currently, the total number of pigs nationwide is 27.3 million, reaching 88% compared to before the outbreak of African swine fever, up 22% compared to January 2020.

“This time is when the highest demand for pork leads to an increase in prices, the supply is maintained. The price of pork on the Tet holiday will not increase dramatically like the 2020 New Year because we can be proactive in food for the end of the year,” said Mr. Trong.

On stabilizing supply and demand for the Tet market, including pork, the representative of the Ministry of Industry and Trade said the ministry has worked with the Ministry of Agriculture and Rural Development on the supply and demand situation of some essential agricultural products, focusing on raising cattle, vegetables, fruits to ensure the full satisfaction of demand during Tet.

At the same time, the Ministry of Industry and Trade chaired and coordinated with a number of ministries and sectors (Ministry of Agriculture and Rural Development, Ministry of Finance, State Bank) to organize working groups in several provinces and cities (Hanoi, Ho Chi Minh City, Yen Bai, Da Nang) on the preparation of goods for consumption during the Lunar New Year.

Facilitating import of pork

The Ministry of Industry and Trade clearly stated that the supply of goods and the preparation for the Tet holiday was implemented early by production and business enterprises. The supply of these items is plentiful.

Particularly for pork, husbandry activities, especially household husbandry have been reduced due to the impact of African swine fever. However, localities have directed businesses in the area to actively seek and source goods, sign contracts with livestock businesses or have plans to import to ensure supply during the Lunar New Year.

Currently, the supply of vegetables, tubers, fruits, rice, noodles, meat and spices is being provided and sold in the supermarket system with large quantities, while prices are clearly and fully listed and stable.

According to reports of localities, the total value of stock of enterprises is estimated to increase about 10-15% compared to the normal months of the year.

Consumption demand tends to increase by 10-15% compared to normal months of the year.

As for pork products, in the recent report that the Ministry of Industry and Trade sent to the Prime Minister on the preparation of goods for the Lunar New Year 2021, this ministry proposed to the Ministry of Agriculture and Rural Development to request produce businesses to supply sufficiently and comply with commitments to distribution businesses, reducing selling prices in order to stabilize the pork market.

At the same time, it will create conditions for distribution businesses, especially businesses participating in market stabilization to directly access sources of goods at reasonable prices.

In addition, the Ministry of Agriculture and Rural Development directed the veterinary industry to facilitate the import and quarantine of imported fresh, chilled and frozen pork such as: shortening the time to review dossiers for quarantine registration at veterinary offices; speeding up the process of taking samples, checking samples and returning results to border quarantine procedures for imported fresh, chilled and frozen pork consignments.

Regarding the Ministry of Finance, the proposal is that the Ministry of Finance directs the General Department of Customs to request the border-gate Customs Branches to create maximum favourable conditions for enterprises importing fresh, chilled and frozen pork; balancing the state budget for localities in order to implement the program of market stabilization of essential goods, in which priority is given to pork.