Pig prices increase, Vietnam imports more than 100% frozen pork

Vietnam has seen a significant increase in the price of live pigs in February, with the average price ranging from 68,000 - 80,000 VND/kg, a rise of 6,000 - 11,000 VND/kg from the previous month, due to a scarce supply caused by the African swine fever epidemic. The country imported over 74,450 tons of meat and meat products in January, with the value increasing by 13.4% compared to the previous month, primarily importing frozen poultry and buffalo meat from India and pork from Russia. Despite a decrease in consumer demand, the price of live pigs has continued to rise, leading to an adjustment in the prices of pork products participating in the market stabilization program. These prices will be applied from March 3 and are ensured to be no more than 20% higher than the average market price, meeting program regulations.

According to the Import-Export Department (Ministry of Industry and Trade), in February, the price of live pigs nationwide was around 68,000 - 80,000 VND/kg, an increase of 6,000 - 11,000 VND/kg compared to the previous month. Preliminary statistics from the General Department of Customs show that in January, Vietnam imported 74,450 tons of meat and meat products, worth 156.68 million USD, up 8.2% in volume and 13.4% in value compared to the previous month. Vietnam mainly imports meat and edible by-products of frozen poultry, fresh frozen buffalo meat, edible by-products of frozen pigs, buffaloes, cows, etc. India is the largest market supplying meat and meat products to Vietnam. Regarding frozen pork, in January, Vietnam imported 12.6 thousand tons, worth 33.75 million USD, up 105% in volume and 149.1% in value compared to the same period last year. The average import price of frozen pork to Vietnam is 2,672 USD/ton, up 20.8% compared to the same period last year. Vietnam ...