In the first nine months of this year, pig prices in the northern region decreased to VND35-40,000 per kilo from VND100,000 per kilo in 2019. In reality, farmers have had to spend VND60,000 per kilo of pig to raise them
Pig prices in Vietnam have dropped considerably to record lows
Bac Ninh Province saw the sharpest fall in pig prices at VND35,000 per kilo.
Pig prices in the central and Central Highlands region were VND38000-45,000 per kilo.
Meanwhile, animal feed prices are on the rise, causing more losses for big breeders.
Experts forecasted that pig prices would drop to VND25,000 per kilo in the coming time due to oversupply. At present, roughly eight million pigs are old enough to be sold for meat, accounting for around 30 percent of the country’s pig number.
Vietnam’s import of different kinds of meat has been on the rise. In the first eight months of this year, the country imported 257,000 tonnes of meat worth USD508 million, up 62 percent and 84 percent on-year.
Le Van Quyet, Chairman of the Southeast Breeding Association, proposed that frozen meat product imports should be suspended to protect domestic producers.
