Pork prices will not increase dramatically near Tet?
According to the assessment of the Ministry of Agriculture and Rural Development, the price of live pigs will not increase dramatically like Tet 2020 because with a total herd of over 27.3 million pigs, it basically serves domestic demand.
In early 2020, due to the impact of African swine fever,pig priceon the market increased rapidly, at times reaching 100,000 VND/kg live weight. Meanwhile, pork accounts for more than 60% of the food group index basket.
However, the solution of herd restoration, pork and live pig imports from Thailand helped domestic pig prices cool down quickly in the late third quarter and early fourth quarter of 2020, down to around 65,000 - 75,000 VND/kg. Stabilizing the supply and lowering pork prices contributed to keeping Vietnam's CPI in 2020 below 4%.
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| Pork stall at Dien Thanh market (Dien Chau). Photo: Xuan Hoang |
Regarding pork prices near Tet, Mr. Nguyen Van Trong - Deputy Director of the Department of Animal Husbandry said that the total pig herd nationwide has recovered by over 88% compared to before. The Department of Animal Husbandry has just inspected and reviewed many large and key livestock farming areas and it is true that in some places the price of live pigs has increased to 83,000 - 85,000 VND/kg, but that is due to buying and selling through many intermediary agents, while the general selling price in all 3 regions is fluctuating between 78,000 - 82,000 VND/kg.
"The price of live pigs will not increase dramatically like Tet 2020 because with a total herd of over 27.3 million pigs, we can basically take the initiative in food for Tet," said Mr. Trong.
Regarding the recent increase in pork prices, Deputy Minister of Agriculture and Rural Development Phung Duc Tien said that there is no need to worry too much, because according to market rules, when Tet is near, not only pork but most other food products tend to increase due to high demand.According to Deputy Minister Phung Duc Tien, up to this point it can be affirmed that there is nothing to worry about regarding the supply and demand of food for the occasion.Lunar New Yearcoming soon, because the output is very abundant. Of which, aquatic products reached over 8.4 million tons; livestock reached 5.4 million tons of meat, of which pork reached 3.48 million tons.
"The Ministry of Agriculture and Rural Development has seen that many localities have proactively stockpiled for Tet, and supplies have increased by 10-20% compared to normal days, so we can rest assured about food and foodstuffs during Tet," said Deputy Minister Tien./.
