Nghe An: Pig price skyrockets, Industry and Trade Department plans to stockpile frozen pigs

Pig prices have increased dramatically, but farmers have no pigs to sell. Photo: Thanh Phuc

When African swine fever broke out in early March 2019, the price of live pigs dropped sharply, fluctuating between 24,000 - 28,000 VND/kg and it was very difficult to sell due to weak purchasing power.

After that, the pork market gradually warmed up, demand increased and prices gradually increased according to supply and demand fluctuations (about 30,000 - 42,000 VND/kg). In early September, the price of live pigs increased sharply, fluctuating from 45,000 - 50,000 VND/kg. Up to now, the price of pigs has jumped to 55,000 - 62,000 VND/kg.

Graphics: Lam Tung

“As of October 10, African swine fever has spread to 21/21 districts, cities and towns; 67,942 pigs weighing 3,167 tons have been destroyed. Previously, when the price of live pigs increased slightly, large-scale farms as well as families rushed to sell their pigs to avoid losses due to the epidemic.”

Mr. Ngo Duc Quynh - Deputy Head of the Provincial Veterinary Department

According to experts, the reason for the increase in pork prices is due to many reasons: Due to the epidemic, the total herd nationwide has decreased sharply, while the demand for pork still accounts for 70% of food in daily meals. African swine fever is becoming an epidemic in China, so the market of this country has reopened for the purchase of live pigs through unofficial channels.

Currently, the price of live pigs is high, but few farmers have sources to sell because some have been sold early, the rest are not of sufficient weight. Ms. Nguyen Thi Hang, owner of a farm in Phuc Thanh commune (Yen Thanh) said: “When the price of live pigs increased, our farm had nothing to sell. Because according to the plan, pigs must reach a weight of 100 kg to be sold. In early September, when the epidemic broke out again, many farms had to "sell early" when they did not reach the standard weight. Currently, our farm has a litter of 90 pigs, weighing 35 kg each, and it is expected that they can be sold by the end of the year.”

Pig price has reached 60,000 VND/kg. Photo: Thanh Phuc

Although the price of live pigs has increased dramatically, the price of commercial meat in markets, supermarkets and stores has only increased slightly, with little fluctuation in purchasing power. Specifically, the price of pork ranges from 100,000 - 150,000 VND/kg (an increase of 10,000 - 20,000 VND/kg depending on the type). Ms. Cao Thi Hoai, a trader at Quan Lau market, said: "Because we are in the middle of the "epidemic storm", housewives are still hesitant to use pork, the amount of meat sold is not much and the price has only increased slightly."

Ms. Tran My Ha - Head of Trade Management Department, Department of Industry and Trade said: "Currently, the price of live pigs has skyrocketed to 60,000 - 62,000 VND/kg, an increase of 50% compared to the same period last year. According to forecasts, the price of live pigs will continue to increase and remain high from now until the end of the year. On average, the whole province consumes over 8,000 tons of pork per month, and the current supply in the province is still sufficient.

In order to ensure price stability during the 2020 Lunar New Year, the Ministry of Industry and Trade is calculating plans to stockpile frozen pork; proactively connecting with large livestock companies to ensure supply and increase the amount of beef, veal, and chicken instead.

Ms. Tran My Ha - Head of Trade Management Department, Department of Industry and Trade