Pork prices are at their highest in the world, but just one meeting immediately dropped them.

A report from the Department of Agricultural Product Processing and Market Development (Ministry of Agriculture and Rural Development) shows that when pork prices increased sharply in October 2018, under the drastic direction of the Ministry of Agriculture and Rural Development and the response of large enterprises in the pig farming industry, the price of live pigs nationwide then tended to decrease.

Specifically, in the North, the price of live pigs in many localities decreased by 4,000-7,000 VND/kg to about 45,000-50,000 VND/kg; in some provinces, the price has decreased below 50,000 VND/kg such as Vinh Phuc, Thai Nguyen, Hung Yen, Bac Giang.

Meanwhile, in the Central and Central Highlands regions, the price of live pigs is trading at around 45,000-52,000 VND/kg, down 1,000 VND/kg compared to last month. In the southern provinces of Kien Giang, Long An, and Binh Duong, the price of live pigs decreased by 1,000 VND/kg to 51,000-53,000 VND/kg; in Tien Giang, the price decreased by 2,000 VND/kg to 52,000 VND/kg. In other localities, the price of live pigs mainly fluctuated between 51,000-54,000 VND/kg.

Although the price of live pigs has decreased, and in the North, the price of pork has even decreased sharply, according to the Department of Processing and Development of Agricultural Products Market, with the current price, farmers still make a profit.

However, contrary to the trend of decreasing pork prices, pork prices in Hanoi markets remain quite high, with no signs of decreasing following the price of slaughtered pork. For example, the price of ribs remains at 110,000 VND/kg; pork belly and lean loin are at 100,000 VND/kg, rump and ham are at 85,000-90,000 VND/kg,...

Previously, on the afternoon of October 9, whenPork prices skyrocketThe Ministry of Agriculture and Rural Development had to hold an urgent meeting with 12 corporations and businesses in the livestock sector to request a reduction in pork prices below 50,000 VND/kg to stabilize the food market.

According to this Ministry, the cost of 1kg of live pig is only 35,000-36,000 VND/kg, while the selling price of live pig at the farm gate is 50,000-56,000 VND/kg, which is too high.

At the meeting, Minister of Agriculture and Rural Development Nguyen Xuan Cuong said that the selling price is decided by the market, but the problem here is how to harmonize the interests of consumers, farmers, and businesses to maintain long-term and sustainable market development. If we do not control the current pork price to a reasonable level, we will lose the market.