Pig price drops sharply to below 60,000 VND per kg

In some areas, the price of live pigs today dropped to 56,000 VND per kg, down 7,000-9,000 VND compared to July - the time when the price of this item was the highest of the year.

In the Northern region, the price of live pigs is currently down to around 59,000 VND per kg. In particular, Yen Bai , Lao Cai, Nam Dinh, Ha Nam and Ninh Binh all dropped to the lowest level in the region at 57,000 VND per kg.

In the South, the price of pork in many areas is 56,000 VND, a decrease of 9,000 VND compared to the price in July.

At Hoc Mon wholesale market, the price of live pigs at farming households also decreased to 57,000-59,000 VND per kg. Particularly, pigs from CP returned to 60,000-61,000 VND, down a few thousand VND compared to before. The number of pigs arriving at the market today was 4,466, down 600 from the previous day.

Buying and selling live pigs at An Noi livestock market (Binh Luc, Ha Nam ). Photo by Tat Dinh

The director of a pig farming company in Long An said that due to the decrease in pig prices, his company will not sell pigs this July to avoid losses. "There are not many pigs in the population, but it is Vu Lan season, so consumption is very low, so the price has dropped sharply," said the director of this company.

Mr. Hoang, a trader in Dong Nai, also said that compared to last month, the number of orders for pigs for slaughter has decreased by 10-20%. For pigs over 120 kg, purchasing power has decreased by 30%. Many sources reported that they have stopped importing goods for a month because of the decline in market consumption.

In general, the Southeast Livestock Association believes that in addition to the Vu Lan season, the business situation of enterprises has not improved, many places have reduced workers, so the purchasing power of industrial kitchens has decreased.

The drop in live hog prices has also led to adjustments in retail prices at traditional markets. Accordingly, spare ribs and pork belly have decreased by VND5,000 per kg to VND150,000-160,000 per kg, pork leg is VND115,000, pork chops are VND90,000...

However, the Southeastern Livestock Association forecasts that pork prices will rise in the fourth quarter when students return to school. In addition, the increased demand for products for the Tet holiday will help prices of this commodity rise.

Comments from Dragon Viet Securities (VDSC) also show that pig prices may increase in the last quarter of the year and will hardly fall below VND55,000 per kg.

Thi Ha

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