Pork prices increase sharply

After a long period of dramatic drop in pig prices, many farms and ranches have drastically reduced their herds, even abandoned them; from the beginning of April 2018 until now, pig prices have tended to increase sharply, from 32,000 VND/kg to 40,000 - 41,000 VND/kg at the end of April; currently reaching 48,000 VND/kg.

The price of live pigs has increased, so the price of pork in Vinh City markets has also increased sharply; a month ago, pork belly, shoulder, and rump were 80,000 VND/kg, now they have increased to 100,000 VND/kg; lean meat, loin, and ribs are 120,000 VND/kg.

Pork prices in markets are increasing sharply. Photo: Viet Phuong

The reason is known to be that the pig herd among the people has decreased sharply, after the time when the price of live pigs dropped dramatically in late 2016 - 2017, many farms have not yet re-herded. Some households raised 300 - 400 pigs last year, but now have no pigs in their pens; many households have even stopped raising sows.

Following the increase in the price of live pigs and the need for herd restoration, the price of piglets has also increased sharply from 500,000 VND/head to 1-1.2 million VND/head. With the current farming method, pigs can be sold after only 3 months, so the increase or decrease in price is not sustainable and is temporary.

Many farms limit herd restoration, causing pork prices to rise. Photo: Phu Huong

According to the Department of Agriculture and Rural Development, the province has more than 889,000 pigs. With current consumption and market conditions, supply is still stable, not lacking, even exceeding demand. Therefore, localities and breeders need to calculate and balance the actual and consumption needs at each time to have a suitable scale and level of breeding.