Traders hoard goods, the pork price sharply increases in all three regions

	Pork price pushes up November CPI
	Prices of essential goods will slightly increase on Tet holiday
	Many major countries export pork to China

The pork price is expected to continue to rise in the near future. Photo: Internet

According to the Agricultural Products Processing and Market Development Department under theMinistry of Agriculture and Rural Development (MARD), in November, domestic live pig price increased due to reduced supply. The market sees the phenomenon of hoarding goods, raising the price of some pork trading units.

In addition, fears about lack of the supply mean farmers tend to raise pigs up to 170 - 180kg instead of 90 - 110kg as usual to wait for high prices. In addition, the pork price is also affected by traders collecting pigs to export to China through border trails and crossings

In the north, the live pig price increased by VND 10,000 - 11,000 / kg. The price of live pigs in Hung Yen is VND 76,000 / kg, Hanoi VND 73,000 / kg, Lao Cai VND 78,000 / kg, Thai Nguyen and NinhBinh 77,000 VND / kg. in the remaining localities, it was 70,000 - 76,000 VND / kg.

Meanwhile, in the central and Central Highlands regions, the price of live pigs also increased by 15,000-16,000 VND / kg, reaching a stable level of 68,000 - 72,000 VND / kg. Sharing the upward trend, in the south, the price of live pigs also increased sharply from 13,000 to 15,000 VND / kg. Specifically, the price of live pigs in Ho Chi Minh City and Binh Duong is 71,000 VND / kg. In TienGiang and SocTrang, it was 75,000 VND/ kg.

The Agricultural Products Processing and Market Development Department forecasts the pork price will continue to rise in the near future due to reduced supply while the demand increases at the end of the year, especially on the Lunar New Year.

At the end of this year, it is forecast Vietnam will see a shortage of 200,000 tonnes of pork. To deal with this problem, Deputy Minister of MARD said that the MARD has taken many solutions such as restarting the pig farming in big enterprises, farms, households in accordance with biosafety; quickly replicating biosafety models in farming; promotingfarming of grazing cattle; preventing ineligible pigs and pig products illegalimported into Vietnam.

From an enterprise perspective, Vu Anh Tuan, Deputy General Director of C.P. Livestock Joint Stock Company said ministries and branches should strictly and regularly controlpig exports to China.

In addition, the livestock industry should recommend farmers extend the farmingperiod, this is the fastest solution to increase pork production. Previously, pigs were raised for 25-26 weeks then sold, if they are raised for more than30 weeks, pork productivity will increase 20-30 percent. This solution is profitable for farmers and helps increase supply.

Regarding the Ministry of Industry and Trade, Deputy Minister of Industry and Trade Do ThangHai said the ministry has directed the Market Surveillance Branches in localities, especially border localities in the north and the southwest,to prevent pig exports to other places, affecting market prices.

“In particular, authorities must also pay attention to the control of pigs from Thailand and Cambodia entering into Vietnam. Although we are in alack, among 24 countries allowed to exported pork to Vietnam do not include these two countries. If the pork from these two countries comesinto Vietnam, it is easy to riskfood safety and possibly bring disease into the country”, Hai said.

In addition to the domestic market, the Agricultural Products Processing and Market Development Department also provides a lot of information related to the world pork market.

Specifically, the price of lean pork delivered in December 2019 in Chicago (USA) shall saw a reduction of 5.35 UScent / lb to 60.65 UScent / lb (equivalent to 31.033 VND / kg).

The decrease in pork prices is due to large supplies and uncertain markets about talks about trade promotion between the US and China, the world's top pork consumer.

Vietnam to import pork for domestic demand The Ministry of Industry and Trade MoIT and the Ministry of Agriculture and Rural Development MARD have ...

However, facing ashortage of domestic pork supply after African swine fever and high demand for the Lunar New Year, China is resuming pork imports from Canada, increasing imports from Brazil. This is considered a factor that will make world pork prices fluctuate positively in the future.