Vietnam

Vietnam is facing 200,000 tonnes shortage of pork

Pork

The hike in prices may be followed by a decrease in consumption, according to analysts.

Posted on Nov 20 ,11:56

Vietnam is facing 200,000 tonnes shortage of pork

Vietnam may face a deficit of 200,000 tonnes of pork, announced the agricultural deputy Minister Phung Duc Tien. In a statement, Tien appealed to relevant agencies to carefully calculate the supply shortage, to consider importing pork to meet domestic demand, controlling the price hike and curbing inflation.
So far, pork price in the Southeast Asian country has jumped by 20% since the first ASF outbreak was reported, in February. By now, Vietnam has lost 5.8 million pigs of its 30 million head inventory, a figure that generated a drop of 300,000 tones in pork production in the country. According to Tien, the average price of live hog in the country runs to 60,000 - 67,000 Vietnamese dong (2.6 - 2.9 U.S. dollars) per kilogram or even 75,000 - 80,000 Vietnamese dong (3.3 - 3.5 U.S. dollars) in some areas. According to an analysis presented by Rabobank, pork consumption in Vietnam could fall by 12% this year due to a combination of higher prices and psychological effects on the consumer.

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