Pig prices soar, Nghe An farmers actively restore herds

Pig prices have increased in the past two weeks. Currently, pig prices in the province range from 66,000 - 70,000 VND/kg. Photo: Thanh Phuc

About 10 days ago,pig priceacross the country has rebounded. Notably, there was a time when the price of live pigs increased from 8,000 - 10,000 VND/kg during the day. Currently, the price of live pigs in Nghe An fluctuates from 66,000 - 70,000 VND/kg (depending on the region and the type of pig). Accordingly, each kg of live pigs has been adjusted to increase by 10,000 - 15,000 VND/kg compared to the beginning of July 2022.

Mr. Nguyen Truong Van, a trader specializing in purchasing pigs in Nghe An and Ha Tinh, said: "For more than a week now, the price of pigs has increased every day, each day at a different price. The latest adjustment day is an increase of 1,000-2,000 VND/kg, at peak times there are days when the increase is up to 8,000 VND/kg. Purchasing live pigs is also more difficult when people have pigs ready to sell but are not in a hurry to sell because they are waiting to see if the price will increase in the coming days."

Rising pig prices help farmers make profits. Photo: Thanh Phuc

The increase in pork prices has also caused the price of commercial meat at traditional markets to skyrocket in recent days. Currently, the price of meat at the markets ranges from 120,000 to 160,000 VND/kg; in particular, at clean food stores and retail supermarkets, the price of pork has been adjusted to increase by 10,000 to 15,000 VND/kg, ranging from 150,000 to 195,000 VND/kg (depending on the type).

Pork products such as ham, sausage, meatballs, etc. also increased by 15,000-20,000 VND/kg due to the increase in meat prices and raw materials. This makes consumers quite cautious when choosing pork for their daily meals.

Meat prices at traditional markets have also been adjusted to increase by 15,000-20,000 VND/kg. Photo: Thanh Phuc

The increase in live pig prices is explained by many reasons. Firstly, the economy has now recovered, restaurants, hotels, and collective kitchens have all returned to business and service, so the demand for pork has increased. Secondly, after a long period of stagnant and low pork prices while feed prices have continuously increased, causing people to suffer losses, many pig farmers have switched to other types of animals, or reduced their herds, or left their barns empty. Therefore, the supply of pigs is not as abundant as before.

Besides,high gasoline prices,The rising price of animal feed has put upward pressure on the price of live pigs. Currently, the live pig market in neighboring countries is also on the rise, typically in China, the price of live pigs has reached 80,000 VND/kg.

The reason for the high price of live pigs is explained as the pressure from the continuously increasing price of animal feed. Photo: Thanh Phuc

Since the beginning of 2022, the price of animal feed has been adjusted up 6 times, equivalent to an increase of over 20%, plus other input costs (breeding animals, barns, labor, disinfectants, antiseptics...) have also increased, making investment in pig farming very difficult. With a price below 60,000 VND/kg of live pigs, farmers have almost no profit. The fact that the price of pigs has rebounded, soaring to 70,000 VND/kg has made farmers and farm owners very excited.

Having many years of experience in farm economics, supplying 360 tons of live pigs to the market each year, Mr. Le Quoc Tan (Hung Nghia commune, Hung Nguyen district) said: "For large-scale farms with stable output and proactive breeding, knowing how to mix locally available materials to reduce production costs, there is no loss but not much profit, mainly taking labor as profit. The increase in pig prices has created motivation for households and farms to actively restore their herds, ensuring a stable supply for the market."

Soaring pig prices are the driving force for pig farmers to invest in herd restoration. Photo: Thanh Phuc

According to statistics, by June 2022,total pig herd in the provinceEstimated output reached 946,819 heads, up 3.31% (+30,323 heads) over the same period in 2021. Estimated output of fresh meat for slaughter reached 76,587 tons, up 3.74% (+2,762 tons) over the same period last year.

Currently, feed accounts for 70-80% of the total cost structure of livestock farming. Therefore, if the price of animal feed continues to increase and shows no signs of cooling down, it is inevitable that the price of pigs will increase, helping people stabilize their herds, invest in herd restoration, and increase herds to create a stable supply for the market./.