Sudden storm in the Thai pig market
Pig price in Thailand plunged in July after a new outbreak of Delta-variant Covid-19 forced many pork plants to close, informs Paul A. Anderson, General Manager South East Asia and International Sales Manager at Genesus Inc in his latest market report.
It is estimated that half of the large-scale meat plants in major cities such as Bangkok and peripheral areas are affected. Only a little over 5% of the population was fully vaccinated as of 25 July. A new lockdown in worse hit provinces also stalled demand for pork as dining in restaurants is banned and wet markets were ordered closed. The price fell 13% to THB 68/kg (USD 2.1) in July from the month before. It is the lowest price in 12 months.
Thailand used to ship over 8,000 heads of live pigs/day to Vietnam via Laos and Cambodia before Vietnam banned live pig imports from Thailand due to suspicion of ASF traces in the shipments. This accounts for about 20% of the country’s total production, which now has nowhere to go and, therefore, is placed on the domestic market.
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