Many Vietnamese livestock firms have earned enormous profits from sharply increasing pig prices.
Nguyen Cong Bac, director of Loc Phat BLLT Livestock Company, said that pig prices were now at VND65,000 (USD2.62) per kilo, providing a profit margin of 18-20 percent.
According to Bac, the cost of feed contributed to the firm's better profits.
Hoa Phat Development of Livestock Joint Stock Company sold 190,000 pigs for meat in the first half of this year. During the period, it recorded an on-year revenue rise of 34.4 percent.
BAF Vietnam Agricultural Joint Stock Company reported a revenue of VND1.33 trillion (USD52.88 million) between January and June, 2.6 times higher than last year. During the period, BAF recorded a net profit of nearly VND154 billion, a twelvefold rise on the year.
BAF's pig number in the first six months of this year reached 252,000, up 1.8 times on-year.
Dabaco Vietnam Joint Stock Corporation, a major player in the livestock industry, had net revenue of VND6.43 trillion for the first half of 2024, up 11.3 percent year over year. The firm's after-tax profit was estimated at VND218 billion, compared to just VND6 billion in the same period last year.
Tong Xuan Chinh, Deputy Director of the Department of Livestock under the Ministry of Agriculture and Rural Development, from now until the end of the year, pork demand is expected to increase by 10-15 percent.
"We've encouraged 16 major livestock businesses nationwide to expand production to ensure supply," Chinh noted.
Pig supply has been forecasted to rise in the coming time. However, amid the ongoing African swine fever, pig prices have remained high and will only fall next year.
Sharply rising pig prices benefit livestock businesses
Many Vietnamese livestock firms have earned enormous profits from sharply increasing pig prices.
Source: dtinews.vn, VietnamNet