Pig price forecast to decline to VND60,000 per kilogram in Q3

The prices of pork will only start to decline from the end of the second quarter and the price of pigs will be able to retreat to VND60,000 per kilogram at the end of the third quarter of this year, according to Mr. Le Trung Hieu, Director of the Agriculture, Forestry & Fishery Statistics Department under the General Statistics Office of Vietnam (GSO).
He said that currently, due to the imbalance between supply and demand, lowering pork prices cannot implement immediately. However, the positive signal is that there is only 1 percent of communes that have controlled the disease for below 30 days. If there is no new outbreak at the end of this month, it can be considered as the end of the African swine fever in Vietnam.

‘That will be the time to repopulate pig herds. Then, the animal husbandry industry’s production of the whole year might rise by 10 percent,’ said Mr. Le Trung Hieu.

Regarding this matter, Ms. Do Thi Ngoc, Director of the Price Statistics Department, said that the Prime Minister had asked the Ministry of Industry and Trade to review the cost price to clarify the reason why the prices of pork, from farmers to consumers, were raised to such high levels.

Earlier, the GSO reported that the consumer price index (CPI) in March dropped by 0.72 percent compared to the previous month. In the decrease of 0.72 percent of the CPI in March, seven out of 11 commodity and service groups posted declines. Of which, transportation saw the highest drop. However, the price index of the food group recorded strong increases, in which pork price surged sharply.

By Anh Phuong – Translated by Thanh Nha

Other news