Nghe An: Pork prices hit record high

Pork prices increase

A walk around some markets in Vinh City and rural markets shows that the price of pork of all kinds has increased quite sharply compared to more than a month ago.

Pork vendors at Yen Thanh Town Market said that pork prices have increased sharply compared to the previous months. Photo: Xuan Hoang

Ms. Nguyen Thi Thuy, a pork seller at Yen Thanh Town Market, said: Currently, the price of pork butt and 3-chi is the same at 85,000 - 90,000 VND/kg, other types of meat cost from 70,000 VND/kg. More than a month ago, pork butt cost 70,000 VND/kg.

According to Mr. Hoang Van Anh, a pig butcher in Nam Thanh commune (Yen Thanh): Currently, farm-raised pigs cost 50,000 VND/kg, while small-scale pigs cost 48,000 VND/kg (because farm-raised pigs are more successful), this price has increased by 10,000 - 15,000 VND/kg compared to before.

Pork vendors at Yen Thanh Town Market added: Although pork prices have increased, due to the hot weather, people's demand has not increased, and consumption is normal.

In Vinh City, the price of live pigs at the end of June reached a record high, ranging from 51,000 - 52,000 VND/kg. Meanwhile, a month ago, it was only 45,000 - 48,000 VND/kg.

Therefore, the price of pork sold at markets in Vinh City has also increased sharply, currently lean meat is 110,000 - 115,000 VND/kg, pork belly is 95,000 - 100,000 VND/kg.

Traders in Vinh City said the reason for the increase in pork prices was because in 2017, the price of live pigs dropped dramatically, while the high price of animal feed made many households not interested in raising pigs. By mid-2018, market demand increased sharply, but the supply was scarcer than in previous years, so the high price increase was understandable.

Pork prices have increased dramatically, causing farmers to wonder whether they should increase their herds at this time or not?

Do not increase the herd.

Mr. Tran Dinh Thuong's family in Hamlet 5, Tho Thanh Commune (Yen Thanh) has built a pig farm for 5 years now. On average, he raises 5-6 litters of pigs each year, each litter has 50-60 pigs.

Pork prices are currently at a record high and consumption is strong, but farmers do not dare to increase their herds for fear of unstable prices. Photo: Xuan Hoang

Mr. Thuong shared: We know that pig farming at this time brings high income, but we also have to calculate the safety factor. If we used to raise 8 sows, now we have to reduce it by half; each litter only raises about 40 pigs, we do not dare to raise them en masse, afraid that unstable prices will lead to capital losses like last year.

Ms. Tran Thi Nga, owner of a pig farm in Tan Phu commune, Tan Ky district, said: Although the price of pigs has increased sharply this time, up to 50,000 VND/kg, she does not dare to release more pigs, but maintains raising nearly 300 pigs, while the farm scale is 1,000 pigs/batch.

In fact, over the past long period of time, many pig farms have fallen into dire straits. Many people have rushed to invest when pork prices went up, leading to bankruptcy. This is also a valuable lesson for farmers to look at and make wise decisions.

Previously, Nguyen Xuan Duong - Deputy Director of the Department of Animal Husbandry (Ministry of Agriculture and Rural Development) said that pork is in a "crisis" of shortage due to a sharp decrease in household livestock production after the price reduction, leading to the need to rescue pork in 2017.

Mr. Ngo Duc Quynh, Deputy Head of the Department of Animal Husbandry and Veterinary Medicine, advised: The recent increase in pork prices is due to market rules, however, the source of imported pigs is still large, so at the present time, farmers should not rush to increase their pig herds, but should focus on improving the quality of their pig herds.

Farmers need to apply scientific and technological advances in animal husbandry, and utilize roughage from agricultural by-products to reduce costs. Do not invest in increasing the herd to avoid risks when pork prices suddenly drop sharply.