Pig prices "must definitely go up", Vietnam and China markets are in opposite directions

The price of live pigs across the country increased by the highest level of 2,000 VND/kg last week, fluctuating between 58,000 - 63,000 VND/kg.

Pig price today, June 25: Pig price 'must definitely go up', Vietnamese and Chinese markets are in opposite directions. (Source: VNA)

Pig price today June 25

* Pig prices in the Northern region increased by 1,000 - 2,000 VND/kg last week.

Specifically, localities including Nam Dinh , Ha Nam and Ninh Binh purchased live pigs at 60,000 VND/kg after an increase of 1,000 VND/kg.

After a price increase, live pigs in Yen Bai and Lao Cai provinces were purchased at 61,000 VND/kg. Traders in Hanoi and Tuyen Quang traded at 62,000 VND/kg, an increase of 1,000 VND/kg.

After increasing by 1,000 VND/kg and 2,000 VND/kg, live pigs in Hung Yen and Bac Giang were purchased at 63,000 VND/kg. The remaining localities did not record any new fluctuations.

Pig price today in the North is around 58,000 - 63,000 VND/kg.

* The live pig market in the Central and Central Highlands regions increased by the highest 2,000 VND/kg last week.

Of which, live pigs in localities including Thua Thien Hue, Quang Nam, Quang Ngai and Khanh Hoa were purchased at 58,000 VND/kg, an increase of 1,000 VND/kg.

Localities including Ha Tinh, Quang Binh and Ninh Thuan traded at 59,000 VND/kg, an increase of 1,000 - 2,000 VND/kg. After the increase, traders in Quang Tri and Binh Thuan purchased at 60,000 VND/kg, an increase of 1,000 VND/kg.

62,000 VND/kg is the transaction price in Thanh Hoa after an increase of 2,000 VND/kg. The remaining localities maintain the transaction price compared to last week.

Currently, the purchase price of live pigs in the Central and Central Highlands regions is around 58,000 - 62,000 VND/kg.

* Pig prices in the South increased and decreased by 1,000 - 2,000 VND/kg.

Specifically, Can Tho City adjusted the price down to 58,000 VND/kg.

After increasing by 1,000 VND/kg and 2,000 VND/kg, the price of live pigs in Tra Vinh and Vinh Long was purchased at 59,000 VND/kg. Soc Trang province traded at 60,000 VND/kg, an increase of 2,000 VND/kg.

Pig price in the Southern region today is around 58,000 - 60,000 VND/kg.

* Mr. Nguyen Nhu So, Chairman of the Board of Directors of Dabaco Group Joint Stock Company, said that the price of live pigs "must definitely go up" in the context of a sharp decrease in the total herd due to African swine fever and small-scale farmers abandoning their farms due to losses.

Mr. So estimated that the total number of pigs in the country is about 23 million, down from the normal level of 28-29 million.

Along with the reduced supply, demand has also increased thanks to the increase in tourists. These two factors combined to support pork prices.

Currently, the price of pigs for closed-chain farming enterprises is about 54,000 - 55,000 VND/kg, while for small-scale households it is about 60,000 VND/kg. Thus, with the current price, both farming households and enterprises are profitable.

However, contrary to developments in the domestic market, the pig market in China is quite quiet. As of May 23, the price of Chinese pigs was 14.17 yuan/kg (about 46,400 VND/kg). This price is almost unchanged from the beginning of April and lower than the price of 16.5 yuan/kg at the beginning of the year.

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