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Vietnam: will stable pork markets welcome the Lunar New Year?

Production down and November imports up 164%. Officials urge for cooperation in stabilizing pork prices. Some retailers will sell at less than market value for the Lunar New Year, Tet holiday.

23 January 2020
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According to the General Statistics Office, the country's November pig census was down 22% compared to the same period last year. Pork production in 2019 decreased 7-10% compared to 2018 due to African swine fever.

In November 2019, the volume of imported pork reached more than 15 thousand tons, up 164% in volume compared to November 2018. Vietnam's pork imports in 2019 were up 108% over the same period in 2018.

The average import price of this commodity during the first 11 months of 2019 was 1,117 USD / ton, or about 25,950 - 26,000 VND / kg. However, since November, import prices have tended to increase compared to the previous months due to increasing demand.

The Ministry of Agriculture and Rural Development - Department of Animal Health is urging stakeholders to help stabilize prices by diversifying the pork supply, and ensuring compliance with international commitments and domestic supply and demand movements. Measures must be strictly implemented to strengthen the control of illegal transportation and trading of live pigs and pig products across borders. The department calls for an active response to the illegal transportation, trading, speculation, and hoarding of pigs causing instability to the domestic market situation.

Although the pig prices in the north are still the highest in the country, ranging from VND 90,000 to VND 95,000 / kg, momentum has slowed down and is starting to decrease. Retail and distribution enterprises in big cities such as Hanoi and Ho Chi Minh all affirmed their commitment to continue stabilize pork products, some even selling pork products at less than market value during the Lunar New Year.

Friday, January 3, 2020 /MOIT/ Vietnam.
https://moit.gov.vn/

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