Pork imported to Vietnam costs 26,000 VND/kg

The Import-Export Department (Ministry of Industry and Trade) said that meat imports in October and November 2019 increased sharply due to high demand at the end of the year and before Tet. In November 2019 alone, the amount of imported pork reached more than 15,000 tons worth 15.9 million USD, an increase of 164% in volume and 113% in value compared to November 2018.

In the first 11 months of 2019, Vietnam's pork imports reached more than 111,000 tons with a turnover of 124 million USD, an increase of 108% in volume over the same period in 2018. The main types of imported pork to Vietnam are pork chops, sliced ​​meat, pork legs, pig's feet, bones... from countries with developed livestock industries such as Poland, Germany, France, the US or the Netherlands.

On average, the import price of pork in the first 11 months of 2019 was 1,117 USD/ton, equivalent to 25,950 - 26,000 VND/kg. Imported pork when put on the market is subject to many taxes (import tax, 5% value added tax, costs, import procedures, cold storage...) so the common selling price is 33,000 - 35,000 VND/kg. However, from November 2019 to now, import prices have tended to increase compared to previous months due to increasing demand.

Pork imported into Vietnam is currently subject to a 10% MGN tax for frozen meat and 25% for fresh and chilled meat. For countries that have trade agreements with Vietnam such as Australia, New Zealand, Japan, the Russian Federation, Mexico, etc., the import tax rate is around 3 - 21%.

Currently, there are 1,641 foreign enterprises licensed to export pork and pork products to Vietnam. There are about 140 Vietnamese enterprises importing pork from these countries and enterprises.

The Import-Export Department said it has requested the Vietnam Trade Offices in countries and territories to proactively organize work and exchanges with reputable pork export associations and enterprises in the host country to provide information and connect with Vietnamese import enterprises to diversify supply sources, contributing to stabilizing the supply and price of pork in the domestic market, especially before and after the 2020 Lunar New Year.