Pig prices are hiking in SE Asia
The lockdown applied in some Southeast Asian countries due to coronavirus outbreak is impacting the foodservice in the region but it does not have the same effect on pig prices, due to the shortage of pig meat created by African swine fever. According to the latest global market report released by Genesus, pig markets in Thailand, Vietnam, and the Philippines have increased their prices for live animals and pork products.
"Pig prices in Thailand are jumping and have reached an average of $2.32/kg. This is a 20% increase over the past four weeks. Contributing to the pig price hike in Thailand is a jump in live pig exports to Cambodia. The export of live pigs to Cambodia accounts for about 14% of the daily pig production in Thailand or 46,000 pigs/day.
Growing demand for live pigs in Cambodia reflects a severe shortage in the country and also its neighboring Vietnam, which is also taking live pigs from Cambodia," said Paul A. Anderson, General Manager South East Asia and International Sales for Genesus. According to the Thai Swine Raisers Association, the export rose to 30% from February to 6,500 pigs/day in the second week of March. Also, the beginning of 2020 was completely mad for pig breeders in the country, with a 250% increase year-on-year in pork exports worth $6.3 million in January. Of this, 97% of pork was shipped to Hong Kong valued at USD 7 million. This is an 1188% increase in value year-on-year.
Vietnam, which is currently dependent on pork imports due to a ratio of 70% pork consumed on a daily basis, has seen a spike in prices. "Current production cost/market hog is estimated at 40,000-45,000 VND / kg (USD 1.72 per kg). According to MARD, Vietnam's pig inventory as of March 10, 2020, is 24 million heads - a 26% decrease compared to the previous year (31 million heads in December 2019). As of the end of February, imports of pork and pork products reached 13,816 tons, accounting for 21% of total meat imports, up 150% over the same period in 2019. Major pork suppliers are:
Canada (accounting for 33%),
Germany (25%),
Brazil (16%),
Poland (16%),
United States (8%)
If domestic producers are not willing to cooperate, the Government will increase pork imports. Discussions on the subject have already been initiated with the largest Russian pig producer, Miratorg Group", reports Mr. Anderson.
The same trend is observed in the Filipino market, where current pig prices (on average) are 14% higher than a year ago. "Badly hit are corporate farms in Central Luzon. Five big corporate farms stated they've suffered a total loss of about 25,000 sow capacity. Of course, it is the backyard farms that are believed to have seriously decreased in population.
Recorded live pig weight also decreased by 9.8%, to 597.51 thousand metric tons in 2020 compared to last year’s 662.73 thousand metric tons. Central Luzon, where corporate farms are located, has had the highest decline in live pig weight production, a 38.1% decrease compared to last year’s data", added Paul Anderson.
Photo source: (Frisomat.ro)
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