Pig prices skyrocket, meat prices remain high

By the end of 2024, the average price of live pigs will be at 63,000 - 65,000 VND/kg, which is considered good, meeting the profit expectations of farmers.

During the Lunar New Year, the price of live pigs increased slightly, around 66,000 - 68,000 VND/kg. Normally, this is the time when the demand for pork increases, causing prices to increase. After Tet, the demand decreases and the price of pigs returns to normal.

However, this year, since Tet, the price of live pigs has been increasing continuously. Notably, this morning (February 19), the price of live pigs has reached a new peak in all three regions. Accordingly, 74,000 VND/kg is currently the highest price recorded on the market.

In Nghe An, the price of live pigs is fluctuating at 70,000 - 72,000 VND/kg. With this price, livestock farmers and farms are making quite a profit.

Mr. Ho Sau (An Hoa commune, Quynh Luu) said: “This herd of 20 pigs was supposed to be sold during Tet. However, due to an unexpected event, it was a bit rushed so we couldn’t sell them in time. On the full moon of January, I called the traders and they only caught 5 pigs, and the remaining 15 pigs were sold on February 18 at a price of 69,000 VND/kg. I didn’t think the price of pigs after Tet would be so high.”

By rotating and continuously intercalating, Mr. Nguyen Ba Binh's pig farm (Thanh Chuong) always has pigs for sale at all times of the year. In 2024, the price of pigs gradually increased and fluctuated from 60,000-64,000 VND/kg. At this price, according to Mr. Binh, farmers have made a profit. Therefore, Tet 2024, for many farmers, is considered a "big win".

However, unexpectedly, after Tet, the price of live pigs continued to increase and is expected to increase further. “After the full moon, when collective kitchens resume operations, the demand for pork will increase. At this time, the price of live pigs will continue to increase,” Mr. Binh predicted.

The increase in pork prices has pushed up the price of commercial meat in the markets. According to a survey, up to now, the price of pork in traditional markets ranges from 130,000 - 160,000 VND/kg (an increase of 10-20,000 VND/kg); the price of pork in clean food stores and supermarkets ranges from 170,000 - 200,000 VND/kg.

Ms. Nguyen Thi Mui (living in Nam Xuan commune, Nam Dan) who sells pork at Hung Dung market (Vinh city) said: “The price of live pigs has increased sharply, so the pork meat from slaughterhouses has also increased. Many types such as young ribs, lean pork belly, and delicious pork belly are almost the same price as beef. The price of meat has increased but purchasing power is slow. Because meat is expensive, people are calculating to switch to other types of food.”

Explaining the reason for the sharp increase in pork prices after Tet, the Department of Animal Husbandry said that the consequences of Typhoon Yagi had prevented many farms in the North from restocking. Meanwhile, the African swine fever and foot-and-mouth disease outbreaks in 2024 had reduced the number of pigs, further exacerbating the shortage. Currently, traders from the North are increasing their purchases of goods to bring to the South for consumption, causing the supply to increasingly narrow.

According to the Department of Animal Husbandry, although pig prices are increasing sharply, this situation will not last long. Farmers will quickly restore their herds when they see good prices, supply will increase again, and pig prices will cool down.

Thanh Phuc