Vietnam: Why did pork prices increase by 30% in just 1 week?

The article reports fluctuations in the price of live pigs and retail pork in Vietnam, with variations across different regions. Despite high demand, the Southern region experienced the lowest price increases. Retail pork prices in Ho Chi Minh City have risen significantly, prompting other businesses to increase their prices. The Ho Chi Minh City Department of Finance has approved price adjustments for businesses participating in the market stabilization program, capping pork product prices at levels lower than average market prices. The article highlights the challenge of meeting demand due to a shortage of pigs of slaughter weight, contributing to the unstable pork market.

The price of live pigs nationwide continues to fluctuate, with traders in the three regions purchasing live pigs at around 64,000 - 69,000 VND/kg. On December 30, in the Northern region, the price of live pigs was traded at around 67,000 - 69,000 VND/kg. In the Central Highlands region, the price fluctuated around 65,000 - 68,000 VND/kg. There was no price adjustment in the Southern region, with purchases at around 64,000 - 68,000 VND/kg. Accordingly, Kien Giang, Tien Giang and Tra Vinh were the provinces with the lowest purchase price, at 64,000 VND/kg. Other localities in the region had a difference in buying and selling at 65,000 - 68,000 VND/kg. In Ho Chi Minh City, retail pork prices are still increasing by 20%-30% compared to a week ago. At Hoc Mon wholesale market, although the amount of pigs entering the market each night has not decreased (about 350-450 tons/night, equivalent to 4,700-6,000 pigs/night), due to high demand, the selling price has increased by 20%-30% in the ...