Pig price today November 20, 2024: Southern region increased by 1,000 VND/kg

Pig price in the North

Pig price in the North today (November 20, 2024) is stable, fluctuating between 61,000 - 63,000 VND/kg.

Hanoi and provinces such as Phu Tho, Tuyen Quang, Thai Nguyen, Hai Duong, Hung Yen, Thai Binh and Vinh Phuc have the highest pork prices in the region, reaching 63,000 VND/kg.

The remaining provinces have prices ranging from 61,000 - 62,000 VND/kg.

Pig price in the Central Highlands

Pig prices in the Central Highlands today (November 20, 2024) remain unchanged compared to yesterday, ranging from 60,000 - 61,000 VND/kg.

Provinces such as Thanh Hoa, Nghe An, Quang Binh and Lam Dong have the highest prices in the region, reaching 61,000 VND/kg.

Pig price in the South

Pig prices in the South today (November 20, 2024) fluctuated slightly. Hau Giang and An Giang provinces increased by VND 1,000/kg compared to yesterday, reaching VND 61,000/kg and VND 62,000/kg, respectively.

The price of live pigs in this area fluctuates from 60,000 - 63,000 VND/kg, of which Dong Nai, Binh Duong, Bac Lieu and Tra Vinh have the lowest price in the region, at 60,000 VND/kg.

The recovery of live hog prices and low raw material costs for animal feed production have helped many pig farming businesses achieve positive business results in the recent period.

According to an update from Feedin on November 12, the average price of live pigs nationwide fluctuated around 61,600 VND/kg. Although down from the peak in the third quarter, this price is still higher than the average price in the same period last year.

According to MB Securities Company (MBS), pig prices will continue to remain high in the short term, forecast to last until mid-2025 before decreasing slightly and stabilizing in 2026, when supply returns to balance.

MBS believes that from now until the end of 2024, there is unlikely to be a large-scale pig sell-off due to the epidemic. In addition, the peak consumption season for the Lunar New Year (starting in early December 2024 and lasting until the end of January 2025) will support prices to increase to around VND68,000/kg, before stabilizing at VND62,000–65,000/kg in the first half of 2025.

According to the United States Department of Agriculture (USDA), thanks to herd expansion and effective control of ASF, Vietnam's pork output in 2025 is expected to reach 3.9 million tons, up 3.3% compared to 2024 (growth of 2.5%). Vietnam currently ranks 5th in the world in domestic pork consumption, with per capita consumption in 2024 expected to reach 37 kg/person, with a compound annual growth rate of about 3.8% in the period 2024–2026.

The cost of animal feed production in Vietnam has decreased significantly since March 2023, after many sharp increases in 2022. Since the beginning of 2023, the price of animal feed has decreased 7 times, with the most recent decrease in May 2024, an average decrease of 150 VND/kg. This creates more favorable conditions for livestock farming activities and improves business profit margins.