Hoang Van Chung, the owner of a pig farm in the northern province of Tuyen Quang’s Son Duong District, said that pig prices had increased to VND64,000 (USD2.72) per kilo. This means that each pig would provide profits of VND700,000-800,000.
Pig prices on the rise
Chung has decided to increase pig numbers from 50 to 100 due to the higher prices.
Deputy Minister of Agriculture and Rural Development Phung Duc Tien said that pig prices have increased since May and reached their highest levels since early this year. Amid the current low supply, pig prices are expected to increase through to the year-end.
Dong Nai Livestock Association Vice Chairman Nguyen Kim Doan said that pig prices in the northern region were the highest in the country, ranging from VND63,000-67,000 per kilo. Meanwhile, the prices in the south were VND59,000-62,000 per kilo.
Doan forecasted that pig prices would climb to VND70,000. He added that Vietnam’s pig prices are higher than neighbouring countries such as China, Thailand, Cambodia and Laos.
Vietnam’s pig supply was estimated at 2,325 tonnes in the first half of this year, up 6.5 percent on-year.
The General Statistic Office reported that in the first five months of this year, Vietnam exported nearly 8,700 tonnes of different kinds of fresh meat and meat-made products worth USD40.64 million, up 39.5 percent and 63.3 percent on-year respectively.
Vietnam’s biggest meat export markets were Hong Kong, China, Belgium, the US and the Netherlands.
